SVG Capital reponds to HarbourVest Bidco press statement
Source - SMW
SVG Capital notes the press release issued by HarbourVest Bidco on Saturday evening regarding a possible offer for 100% of the company's investment portfolio (Asset Purchase Alternative).
It said it had received no offer from HarbourVest Bidco for the Asset Purchase Alternative.
SVG noted HarbourVest Bidco's comment that there can be no certainty that any firm offer will be effected or as to its terms. It would update shareholders in due course.
"The Company continues to work with Goldman Sachs AIMS Group and CPPIB to finalise the outstanding diligence items for the Proposed Investment Portfolio Sale announced on Thursday 6 October 2016," SVG said.
"These outstanding items are very focused and technical in nature and are taking place concurrently with final contract negotiations. All parties are devoting significant resources to finalising terms as quickly as possible.
"The Board continues to believe that HarbourVest Bidco's final cash Offer of 650p per share undervalues the Company and urges shareholders to take no action."