On 15 September 2010 Oakley Capital Private Equity (“Oakley”) announced the disposal of Host Europe Corporation Limited (“Host Europe”) to Montagu Private Equity for a consideration of £222 million.
Oakley acquired Host Europe in April 2008, for a consideration of £128 million. At that time the group also included Vialtus Solutions, which was sold to AIM listed Daisy Group plc (“Daisy”) in July 2009 for a consideration of £42 million consisting of £13 million of cash and the issue of 36.25 million shares in Daisy (14% of share capital). Oakley will continue to own the Daisy shares post completion and remains an active and supportive shareholder in the company.
Final completion of the deal is conditional upon approval from Germany’s Federal Cartel Office which is expected to take up to four weeks.
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