Tikehau Capital Plans to Raise EU500M in Share Sale
Tikehau expects to sell new shares at EU22 each, investment firm says in statement.
- Co. has received “strong interest” from some current shareholders and other institutional investors
- Tikehau’s controlling shareholders plan to buy EU165m of shares in capital increase
- Capital increase will provide Tikehau with resources to finance development, accelerate growth, co. says
- Tikehau plans to expand its asset-management business, and pursue organic growth of existing and new investment strategies to reach EU20b under management by 2020
- Co. will use market visibility to “accelerate opportunities in M&A in both existing and new strategies and geographies
- Tikehau could make acquisitions of up to EU200m-EU300m, says Tikehau co-founder Antoine Flamarion on conference call
- Capital increase depends on mkt conditions, approval of prospectus by AMF
- Tikehau has received expressions of interest from holders of 2022 ORNANEs wishing to tender about 79% of the bonds originally issued; once repurchase completed, Tikehau will begin five-day offer for other bonds at same price
- NOTE: Tikehau market value at Fri close was EU1.68b, and co. manages EU10.3b of assets.