MVC Capital Agrees to Sell European Investment in Centile Holdings B.V. to VOIP Holdings GmbH
MVC expects to receive gross proceeds of approximately
“Selling Centile is consistent with the Fund’s strategy to monetize its equity investments in order to redeploy capital into yielding investments. Generating enhanced yield for our shareholders remains a key strategic priority for MVC. The sale of Centile, a European-based investment reflects continued progress in this regard,” said
1 Gross consideration assumes the full receipt of all escrow proceeds scheduled to be released 18 months from the date of closing and excludes: 1) transaction fees and expenses associated with the sale and 2) currency exchange changes that can result prior to the close anticipated for
2 The anticipated gross IRR since 2011, before fees and incentive compensation paid, assumes the full receipt of all net proceeds and takes into consideration all estimated transaction related expenses. For purposes of calculating the gross IRR on the sale, the currency exchange rate on the date of the transaction signing was utilized. The currency value at closing could be different.
Safe Harbor Statement and Other Disclosures
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.
The information contained in this press release contains forward-looking statements. These forward- looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including: MVC Capital's ability to deliver value to all shareholders and execute its yield investment strategy, including enhancing its yield; the ability to redeploy capital into yield investments; the ability to monetize equity investments, including closing the Centile transaction; the ability to monetize other equity investments at close to their recent carrying values; the ability to estimate accurately fair valuations for portfolio company investments and changes in economic or financial market conditions and other factors that are enumerated in the Company’s periodic filings with the
This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of MVC's common stock.
Investor Relations Contacts
Jeffrey Goldberger / Allison Soss
212.896.1249 / 212.896.1267
Source: MVC Capital, Inc.