(Alliance News) – Gresham House on Wednesday said that its shareholders approved the planned takeover by US-based private equity and debt investor Searchlight Capital Partners.
The takeover is still subject to certain conditions, such as the court’s sanction, but Gresham expects it to be completed in late 2023 or early 2024.
Gresham House in July agreed with Seed Bidco Ltd, a newly incorporated entity formed by funds advised by Searchlight at 1,105 pence per share bid.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Gresham House shares closed 0.4% higher at 1,064.25 pence each in London on Wednesday, two hours before the company announced the results from the court meeting and the general meeting.
The offer values asset manager Gresham at around £469.8m on a fully diluted basis, or £440.6m on an enterprise value basis.
By Tom Budszus, Alliance News reporter.
Source: Morningstar
Can’t stop reading? Read more
Ares posts strong Q3 results with record fundraising and 28% AUM growth
Ares posts strong Q3 results with record fundraising and 28% AUM growth Ares Management...
Top private equity news of the week
Top private equity news of the week Andreessen Horowitz has led a $150m funding round in San...
Burnley FC and Espanyol parent ALK Capital lands $200m from Cynosure | Checketts Sports Capital
Burnley FC and Espanyol parent ALK Capital lands $200m from Cynosure | Checketts Sports Capital...