Eurazeo: sells stake in Iberchem
(CercleFinance.com) - Eurazeo Capital announces that it has reached an agreement with the British chemical group Croda to sell its stake in Iberchem, a company based in Murcia (Spain) that produces food fragrances and flavours.
The transaction, subject to the usual conditions precedent, is expected to be completed by the end of 2020. The agreement values Iberchem at 820 million euros, representing a multiple of 20.5x 2020 EBITDA.
This divestment will generate a cash-on-cash multiple of 2.1 times for Eurazeo Capital and an Internal Rate of Return (IRR) of approximately 25%. Proceeds will amount to 565 million euros for Eurazeo Capital and its partners (384 million euros for Eurazeo's share).
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The transaction, subject to the usual conditions precedent, is expected to be completed by the end of 2020. The agreement values Iberchem at 820 million euros, representing a multiple of 20.5x 2020 EBITDA.
This divestment will generate a cash-on-cash multiple of 2.1 times for Eurazeo Capital and an Internal Rate of Return (IRR) of approximately 25%. Proceeds will amount to 565 million euros for Eurazeo Capital and its partners (384 million euros for Eurazeo's share).
Copyright (c) 2020 CercleFinance.com. All rights reserved.