HarbourVest makes full, finall offer for SVG Capital
Source - SMW
HarbourVest Bidco has announced a full and final cash offer to be made for the entire issued and to be issued share capital of SVG Capital, to be implemented by way of a takeover offer.
Under the terms of the Offer, SVG Capital Shareholders will receive 650p in cash for each SVG Capital Share they hold, valuing the entire existing issued share capital of SVG Capital at about £1,015 million.
HarbourVest said it believes the all-cash Offer is highly attractive for SVG Capital Shareholders, representing a compelling value proposition at a low discount to SVG Capital's last published net asset value ("NAV") (as at 30 April 2016) and a significant premium to the SVG Capital Share price as at 9 September 2016 (being the last Business Day prior to the commencement of the Offer Period).