Reuters logo
Electra's manager Epiris to sell Parkdean Resorts for 1.35 bln stg
December 19, 2016 / 7:29 AM / a year ago

Electra's manager Epiris to sell Parkdean Resorts for 1.35 bln stg

Dec 19 (Reuters) - British buyout fund Electra Private Equity said its portfolio manager Epiris had agreed to sell Parkdean Resorts, an operator of caravan holiday parks, to private equity firm Onex Corporation for 1.35 billion pounds ($1.69 billion).

The deal is expected to close in the first quarter of 2017, Electra said on Monday, adding it would receive about 405 million pounds from the sale, taking its total proceeds from the investment to 515 million pounds.

Electra is in the midst of separating from its investment management team, which renamed itself Epiris this month, as part of a major shake up. ($1 = 0.8011 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; editing by Simon Jessop)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below