Wendel Completes 51% Stake Acquisition In IK Partners
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
(Gdansk Newsroom)
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