Better Capital stock story
After having entered into exclusive discussions in November 2016, Better Capital PCC limited has now announced it has entered into a Share Sale Agreement for the sale of its interest in Garner Aerospace Holdings Limited for £326 million on an Enterprise Value basis. The remaining hurdles are governmental and regulatory approval as well as approval by the Shaanxi Ligeance Mineral Resources shareholders. Net proceeds after carry and expenses are stated as c. 105p which is higher than the net figure in our model and higher than most analysts’ figure.
Better Capital PCC Limited is 4.08% of the portfolio as at 31 Mar 2017.
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