DGAP-Adhoc: Williams Grand Prix Holdings PLC divests majority stake in Williams Advanced Engineering
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DGAP-Ad-hoc: Williams Grand Prix Holdings PLC / Key word(s): Disposal
Williams Grand Prix Holdings plc ("Williams") (WGPH, Ticker: WGF1) has today entered into an agreement for the sale of a majority equity stake in Williams Advanced Engineering Limited ("WAE") to funds controlled by EMK Capital LLP ("EMK"), an independent private equity firm. Gross proceeds from the transaction, before tax and associated transaction costs, are expected to be £47.7 million. EMK will also invest funds directly into WAE to support and accelerate its long-term growth, including the commercialisation of various technology opportunities. Williams will continue to retain a significant minority interest in the WAE business. The transaction is expected to conclude within the next few weeks.
Contact: Mark Biddle General Counsel [email protected]
24-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Williams Grand Prix Holdings PLC |
| Grove, Wantage | |
| OX12 0DQ Oxfordshire | |
| United Kingdom | |
| Phone: | +44 (0) 1235 777700 |
| Fax: | +44 (0) 1235 764705 |
| E-mail: | [email protected] |
| Internet: | http://www.williamsf1.com |
| ISIN: | DE000A1H6VM4 |
| WKN: | A1H6VM |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 943115 |
| End of Announcement | DGAP News Service |
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943115 24-Dec-2019 CET/CEST
Williams Grand Prix Holdings Stock
€10.50
-1.850%
