SVG Capital to earn from reduction of stake in Galaxy
Private equity investor SVG Capital is set to benefit after Permira, in which it has both direct and indirect holdings, agreed to sell 53 per cent of its remaining holding in Galaxy Entertainment Group, a Hong Kong-listed casino and hotel operator, at HKD21 per share.
Private equity investor SVG Capital is set to benefit after Permira, in which it has both direct and indirect holdings, agreed to sell 53 per cent of its remaining holding in Galaxy Entertainment Group, a Hong Kong-listed casino and hotel operator, at HKD21 per share.
As a result of the sale, SVG will receive net cash proceeds of £70m, leaving its remaining holding valued at £86m.
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