JPEL Private Equity Limited Sale of Datamars (7492Z)
17 March 2017 - 5:04AM
UK Regulatory
TIDMJPEL
RNS Number : 7492Z
JPEL Private Equity Limited
16 March 2017
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
CDPQ INVESTS IN DATAMARS
-- DATAMARS IS JPEL'S 2(ND) LARGEST INVESTMENT AT 31 DECEMBER 2016
-- ESTIMATED JPEL PROCEEDS EXPECTED TO BE APPROXIMATELY CHF 46 MILLION*
* * *
GUERNSEY, 16 MARCH 2017
JPEL is pleased to announce that on 14 March 2016, Caisse de
dépôt et placement du Québec (CDPQ) announced an investment in
Datamars, a global company based in Switzerland whose technology is
used to identify and track livestock, companion animals and
textiles. The transaction is subject to regulatory and change of
control approvals as well as customary completion conditions and
procedures, with closing expected by the end of April 2017.
JPEL holds an indirect interest in Datamars. The sale of
Datamars is likely to result in a realised investment return of
approximately 3.5x and a IRR of 50.6% for JPEL, on a CHF basis.*
Based on the sale price, JPEL is expecting to receive proceeds of
approximately CHF 46 million*, which reflects JPEL's current
carrying value. JPEL has increased the value of Datamars by
approximately 96% since December 2015, based on ongoing sale
discussions.
At 31 December 2016, Datamars represented 9% of JPEL's total NAV
and was JPEL's 2(nd) largest underlying investment. Datamars is
valued at 3.5x JPEL's cost at 31 December 2016, on a CHF basis.
* This is an estimate only and is not, and should not, be
construed as a profit forecast. Actual returns to JPEL will only be
known once the transaction has been completed.
* * *
About JPEL Private Equity Limited
JPEL Private Equity Limited is a Guernsey registered and
incorporated, London Stock Exchange-listed, closed-ended investment
company (LSE: JPEL) designed primarily to invest in the global
private equity market. The investment objective of the Company is
to achieve both short and long-term capital appreciation by
investing in a well-diversified portfolio of private equity fund
interests and by capitalising on the inefficiencies of the
secondary private equity market.
ENQUIRIES:
FCF JPEL Management LLC
JPELClientService@fortress.com
This information is provided by RNS
The company news service from the London Stock Exchange
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