ICG Enterprise Trust Announces £45m Sale of Minimax
Why we think this is good
The realisation of the Minimax investment for £45m in cash proceeds is a positive outcome for ICG Enterprise Trust. The sale was executed in line with the last reported NAV, suggesting a fair price. The proceeds will be deployed in line with the company's investment objectives, which is a prudent approach. While this is a significant transaction, representing 3.3% of the portfolio, it does not meet the criteria for a 'very good' rating as it is not a profit upgrade or transformational acquisition.
Key Points
- ICG Enterprise Trust has realised its investment in Minimax, generating £45m in cash proceeds
- Minimax was the company's largest portfolio exposure, accounting for 3.3% of the portfolio
- The sale was executed in line with the last reported NAV
- The proceeds will be deployed in line with the company's investment objectives and capital allocation policy
Summary
ICG Enterprise Trust has announced the realisation of its investment in Minimax, generating £45m in cash proceeds. Minimax was the company's largest exposure, accounting for 3.3% of the portfolio. The sale was executed in line with the last reported NAV, and the proceeds will be deployed in line with the company's investment objectives and capital allocation policy. This transaction, along with a secondary sale reported earlier this month, has resulted in over £100m of total proceeds for the company in April.