EPE Special Opportunities Acquires Secondary Interest in ESO Investments.
M2 EQUITYBITES-July 27, 2015-EPE Special Opportunities Acquires Secondary Interest in ESO Investments
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27 July 2015 - UK-based investment manager and advisory boutique EPE Special Opportunities plc has acquired the Ltd. Partnership interest held by DES Holdings IV(A) LLC in ESO Investments 1 LP a Ltd. Partnership in which ESO plc is the majority Ltd. Partner, the company said.
Following the transaction, ESO plc is now the sole Ltd. Partner in ESO 1 LP.
The total value of the acquisition is GBP 8.6m (USD 13.38m), with GBP 5.7m to be paid in cash at completion and GBP2.9 m in cash before 30 September 2015.
EPE said that the acquisition value represents ESD's audited 31 January 2015 Net Asset Value in ESO 1 LP at a fixed Pound to Euro exchange rate of 1 : 1.35.
The acquisition continues the said objective of buying out Minority Interests and participants in all assets where the Investment Advisor believes it represents value. The acquisition is also consistent with ESO plc's said objective of having a concentrated portfolio numbering between two and 10 assets at any one time.
EPE Special Opportunities is an independent investment manager and advisory boutique focused on UK-based small and medium sized companies. The company procures asset-backed finance for distressed and previously insolvent businesses.
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