Brief: Wendel Completes 51% Stake Acquisition In IK Partners

Wendel SE

14/05/2024 17:06

May 14 (Reuters) - Wendel SE  MWDP.PA :
    * WENDEL COMPLETES THE ACQUISITION OF A 51% STAKE IN IK
PARTNERS,
A MAJOR STEP IN THE DEPLOYMENT OF ITS STRATEGIC EXPANSION IN
THIRD-PARTY PRIVATE ASSET MANAGEMENT
    * WILL INVEST A TOTAL OF 383 MILLION EUROS, OR C. 12.5 TIMES
ESTIMATED 2024 PRE-TAX FEE RELATED EARNINGS
    * ALSO ENTITLED TO 20% OF CARRIED INTEREST GENERATED ON ALL
FUTURE
FUNDS RAISED BY IK
    * 383 MILLION EUROS WILL BE PAID BY WENDEL IN TWO STAGES
    * 255 MILLION EUROS PAID TODAY, FOLLOWING TRANSACTION
CLOSING
    * 128 MILLION EUROS ON PAID ON MAY 14, 2027, SUBJECT TO
CERTAIN
CONDITIONS
    * REMAINING 49% OF IK'S CAPITAL WILL BE ACQUIRED BY WENDEL
IN
SUBSEQUENT TRANSACTIONS

Source text for Eikon:  ID:nGNE2HMYc 
Further company coverage:  MWDP.PA 

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