In QuotedData’s morning briefing for 04 August 2023:
- Schroder British Opportunities (SBO) has announced that one of its private equity investments, Rapyd, has acquired PayU Global Payment Organisation from Prosus, for $610m, subject to regulatory approval. Rapyd is a leading global Fintech-as-a-Service provider, while PayU is a payment solutions provider to both enterprise and SMB segments in emerging markets. SBO believes that the acquisition is a strategic move that continues Rapyd’s global expansion across emerging markets in Central and Eastern Europe and Latin America.
- Home REIT (HOME) has sold a portfolio of 40 properties for £4.848m at auction as new manager AEW tries to stabilise the portfolio. The sales price represented an average 39.4% of the price HOME paid for them due to the large majority being vacant and the condition of the properties. The company says that the properties had “limited prospects for income and capital return given the required capital expenditure in order to be brought up to specification”. Sale proceeds will be used to reduce borrowings and provide working capital.
- Schiehallion (MNTN) is finally merging its C share and ordinary share investment pools. The board says that the $700m C share proceeds received in April 2021 are now 86.6% deployed. The shares will be merged on 11 September based on NAVs at 31 August 2023.