Industrial Equity Investments Limited ("IEIL"), an international investment company owned by the Permira Funds has signed a definitive agreement to sell Arysta LifeScience to New York listed Platform Speciality.
The transaction values SVG Capital's holding in Arysta at approximately £221m1, a £14m uplift (7p per share) to the June 2014 valuation of the company of £207m. Approximately 83% of the consideration will be received by IEIL in cash at closing and 17% in a convertible preferred note.
SVG Capital expects to receive cash proceeds of approximately £156m from this partial realisation.
The sale is subject to regulatory clearance and is expected to complete in the first quarter of 2015.
1 Using 17 October 2014 foreign exchange rates
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