Tikehau Capital Announces the Sale of Its Stake in NAFILYAN & PARTNERS in Three Stages
December 04 2017 - 2:30AM
Business Wire
Regulatory News:
Tikehau Capital (Paris:TKO) announces the sale of its stake
in the real-estate promoter NAFILYAN & PARTNERS in three stages
to the Belgian property developer IMMOBEL.
Tikehau Capital invested a total of approximately EUR 8.9
million (including EUR 7.7 million in bonds and EUR 1.2 million in
capital) in NAFILYAN & PARTNERS between July 2014 and May 2016
and currently owns a 15% stake in the company before capital
increase.
The sale is scheduled to take place in three stages. Following a
capital increase by NAFILYAN & PARTNERS on 2nd December,
IMMOBEL holds 15% of the company. IMMOBEL will then acquire a
further 36% of the French group during the 2019 financial year,
through the exercise of reciprocal options, and the remaining 49%
of the equity and other NAFILYAN & PARTNERS SAS capital
securities in 2020. The valuation of the securities will be based
on EBIDTA multiple methodology, carried out year-end, and will be
capped at EUR 130 million.
The transaction, if completed, should deliver for Tikehau
Capital an estimated multiple of 3x based on current forecasts.
NAFILYAN & PARTNERS is a real-estate promoter founded in
2014 by two sector professionals, Guy Nafilyan, former CEO of
Kaufman & Broad, and Bruce Karatz, former Chairman & CEO of
the US group KB Home. Both groups are major players in the French
residential market. The company, which employees 54 staff, has
become a reference in the field of apartment block developments,
detached housing estates and managed residences.
NAFILYAN & PARTNERS was advised by Banque Degroof Petercam
Corporate Finance.
About Tikehau Capital
Tikehau Capital is an asset management and investment group
which manages €12.6bn of assets, with shareholders’ equity of
€2.3bn. The group invests in various asset classes (private debt,
real-estate, private equity and liquid strategies), including
through its asset management subsidiary Tikehau IM, on behalf of
institutional and private investors. Controlled by its managers,
alongside leading institutional partners, Tikehau Capital employs
185 staff in its Paris, London, Brussels, Madrid, Milan, Seoul and
Singapore offices.
Tikehau Capital is listed on Euronext Paris, compartment A (ISIN
code: FR0013230612; Ticker: TKO.FP) www.tikehaucapital.com
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version on businesswire.com: http://www.businesswire.com/news/home/20171203005109/en/
Tikehau Capital:Julien Sanson, +33 1 40 06 18
40jsanson@tikehaucapital.comorImage 7:Leslie Jung, + 44 781 864 18
03ljung@image7.uk.com
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