Searchlight Capital Partners is buying London-listed alternatives manager Gresham House in a 拢469.8m (鈧�549m) take-private deal.
The $11.6bn (鈧�10.7bn) private investment firm is offering Gresham House shareholders 1,105 pence for each share they hold, a 63% premium to the stock鈥檚 last closing price of 680 pence.
The offer price gives Gresham House a 拢469.8m valuation on a fully diluted basis and a value of 拢440.6m on an enterprise value basis.
Gresham House directors said they intend to recommend that its shareholders vote in favour of a scheme at the court meeting and a resolution to approve the takeover.
Gresham House, which is listed on London Stock Exchange鈥檚 junior investment market AIM, manages approximately 拢8bn of assets on behalf of institutions, family offices, charities and endowments, private individuals and their advisers.
The specialist alternative asset management group is dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, sustainable infrastructure, renewable energy and battery storage, public and private equity.
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