Disposal of Emesa Group Holdings B.V - Replacement

RNS Number : 2578U

Oakley Capital Investments Limited

24 December 2012

 



24 December 2012

Oakley Capital Investments Limited ("OCIL" or the "Company")

Oakley Capital Private Equity L.P.'s disposal of Emesa Group Holdings B.V.

for €95 million

Oakley Capital Investments Limited (AIM:OCL, OCIL, the "Company"), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. (the "Limited Partnership") announces the disposal by the Limited Partnership of Emesa Group Holdings B.V. ("Emesa"), a leading online consumer auction platform in the European leisure industry, to Dasym Emesa Holding B.V. a fund managed by Cyrte Investments B.V., for an enterprise value of €95 million.

Completion of the transaction is conditional on Dutch Competition Authority approval and employee consultation procedures being satisfied.

As a result of the disposal, the Company is expected to receive €30 million from the Limited Partnership as its share of proceeds from the sale, representing a 21% uplift in the net asset value previously attributed to Emesa. The net asset value per share of the Company is expected to increase by approximately 3p from the last published net asset value per share of 174p as on 30 June 2012, as a result of this transaction.

Peter Dubens, Director, commented:

"Emesa has performed strongly since Oakley invested in the business in March 2011, further strengthening its position in the Netherlands and establishing operations in Germany. On completion this will represent a significant disposal for the Limited Partnership and achieves a good return for investors over a relatively short period of time."

Further information will follow at the time of Completion.

For further information please contact:

Oakley Capital Investments Limited

[phone]

Stewart Porter, COO, Oakley Capital Limited

FTI Consulting

[phone]

Edward Bridges / Marc Cohen

Liberum Capital Limited (Nominated Adviser & Broker)

[phone]

Steve Pearce / Tom Fyson

About Oakley Capital Investments Limited ("OCIL")

Oakley Capital Investments Limited is a Bermudan based company listed on AIM. OCIL seeks to

provide investors with long term capital appreciation through its investment in Oakley Capital Private Equity L.P. and, over time, through co-investment opportunities.

About Oakley Capital Private Equity L.P. (the "Fund")

Oakley Capital Private Equity L.P. is an unlisted UK and European mid-market private equity fund with the aim of providing investors with significant long term capital appreciation. The Fund's investment strategy is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Fund seeks to invest in companies with scale in their industry subsectors, thereby creating a sustainable earnings stream which should command a premium on exit.

 

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