Arrow Global Group PLC Arrow Global and MCS Groupe (0069M)
25 July 2017 - 6:53PM
UK Regulatory
TIDMARW
RNS Number : 0069M
Arrow Global Group PLC
25 July 2017
FOR IMMEDIATE RELEASE
25 July 2017
Arrow Global Group PLC
("Arrow Global" or the "Company" and together with its
subsidiaries the "Group")
Arrow Global and MCS Groupe
Arrow Global Group plc notes the announcement by MCS Groupe
("MCS") that Louvre Bidco, a French company controlled by funds
advised by BC Partners, has signed a put option agreement relating
to the acquisition of 100% of the securities issued by Promontoria
MCS Holding, the holding company of Promontoria MCS, from certain
affiliates of Cerberus Capital Management, L.P. and certain
managers of the MCS group. Arrow Global has held a 15% economic
interest since 2014.
Completion of the contemplated acquisition would be subject to
the approval of the relevant competition authorities, and while the
terms of the transaction remain confidential, subject to
completion, the sale of MCS is expected to result in a one-off net
gain for Arrow Global.
Lee Rochford, Group Chief Executive of Arrow Global, said: "MCS
Groupe has been a highly successful investment for Arrow Global.
While the sale is still yet to complete, we believe that this
investment will have provided excellent value to our
shareholders.
"Arrow Global continues to see significant growth opportunities
in our five European markets of operation and we remain confident
and disciplined in achieving our medium term targets."
Enquiries:
Arrow Global +44 (0)161 242 5885
Lee Rochford, Group CEO
Robert Memmott, Group CFO
Anthony Frost, Group Communications
Instinctif Partners +44 (0)20 7457 2020
Giles Stewart
Rui Videra
Ambrose Fullalove
Forward looking statements
This announcement contains statements that constitute
forward-looking statements relating to the business, financial
performance and results of the Group and the industry in which it
operates. These statements may be identified by words such as
"expectation", "belief", "estimate", "plan", "target", or
"forecast" and similar expressions or the negative thereof; or by
forward-looking nature of discussions of strategy, plans or
intentions; or by their context. All statements regarding the
future are subject to inherent risks and uncertainties (including
the completion of the sale of MCS Groupe) and various factors could
cause actual future results, performance or events to differ
materially from those described or implied in these statements.
Such forward-looking statements are based on numerous assumptions
regarding the Group's present and future business strategies and
the environment in which the Group will operate in the future.
Further, certain forward looking statements are based upon
assumptions of future events which may not prove to be accurate and
neither Arrow Global nor any other person accepts any
responsibility for the accuracy of the opinions expressed in this
document or the underlying assumptions. The forward-looking
statements in this document speak only as at the date of this
announcement and Arrow Global assumes no obligation to update or
provide any additional information in relation to such
forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCKMGZNRKGGNZG
(END) Dow Jones Newswires
July 25, 2017 04:53 ET (08:53 GMT)
Arrow Global (LSE:ARW)
Historical Stock Chart
From Apr 2024 to May 2024
Arrow Global (LSE:ARW)
Historical Stock Chart
From May 2023 to May 2024