The firm that chose to wind down to avoid a US takeover: SVG Capital agrees to sell half of its assets



Britain's biggest private equity group has agreed to sell half of its assets and wind down to avoid a hostile US takeover.
SVG Capital said it wanted to 'maximise cash returns to shareholders' as it revealed Pomona Capital and Pantheon Ventures were paying £379million for 50 per cent of its investment portfolio.
The company had spurned US rival HarbourVest's £1billion bid earlier this month, and had since held urgent talks with several groups of possible bidders to achieve a higher price.
It had urged shareholders not to accept the offer until after the company published its interim... read more

 
4 October 2016 in Business, Views: 33
Source: Daily Mail
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