Investment company Intermediate Capital Group Plc (ICP.L) Wednesday announced the sale of its stake in CPA Global.
According to the company, the deal will generate total proceeds of 387 million pounds for ICG plc and the funds advised by ICG. Upon completion ICG plc will receive total cash proceeds of about 113 million pound. The company said the transaction will result in an additional 43 million pounds capital gain for ICG plc, which will be booked in the second half of the current financial year.
The company said the deal is subject to the approval of a Scheme of Arrangement in Jersey and regulatory clearances, and is expected to close by the end of the first quarter of 2012.
Additional terms of the transaction were not disclosed.
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