Mercia Asset Management has completed the sale of its second largest holding, Faradion (a leading sodium-ion battery technology company), for £100m to Reliance New Energy Solar, a subsidiary of India’s Reliance Industries. Mercia will receive total cash proceeds of £19.4m from the sale, including initial unrestricted cash proceeds of £18.6m, plus a further £0.8m ringfenced for three months. The sale value represents an uplift of approximately 50% over Faradion’s conservative carrying value of £1 ....
06 Jan 2022
Mercia Asset Management - Another good exit: 4.2x ROI, 72% IRR
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Mercia Asset Management - Another good exit: 4.2x ROI, 72% IRR
Mercia Asset Management PLC (MERC:LON) | 34.5 0.9 7.8% | Mkt Cap: 149.7m
- Published:
06 Jan 2022 -
Author:
Richard Williamson -
Pages:
2
Mercia Asset Management has completed the sale of its second largest holding, Faradion (a leading sodium-ion battery technology company), for £100m to Reliance New Energy Solar, a subsidiary of India’s Reliance Industries. Mercia will receive total cash proceeds of £19.4m from the sale, including initial unrestricted cash proceeds of £18.6m, plus a further £0.8m ringfenced for three months. The sale value represents an uplift of approximately 50% over Faradion’s conservative carrying value of £1 ....