SVG mulls share buybacks as asset values rise

LONDON Fri Aug 12, 2011 7:44am BST

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LONDON (Reuters) - Private equity investor SVG Capital said asset values rose steeply and it may buy back shares when it sees proceeds from sales of Permira companies, which account for the bulk of its portfolio.

SVG (SVI.L), seen by many as a listed proxy for buyouts firm Permira PERM.UL, which accounts for more than 80 percent of its investment portfolio, said asset valuations rose 25 percent in the six months to end-June to 393.9 pence.

It said it remained committed to investing in private equity, adding it could return cash to shareholders when proceeds from sales of companies owned by Permira begin to accelerate.

Permira has been looking for buyers for animal feeds business Provimi, television production company All3Media and is considering listing NDS, the pay-TV technology company it co-owns with News Corp, according to people familiar with those situations.

SVG said it was considering a longer-term strategy of how to deliver value to shareholders and expected to announce results of that review before the year-end, after consulting with shareholders.

(Reporting by Simon Meads; Editing by Dan Lalor)