Mercia has crystallised a further c.£7m gain (£19.4m cash receipt) as portfolio company Faradion is sold to Indian conglomerate Reliance. With headline £100m EV already announced (31/12), this morning’s completion has revealed that Mercia has generated an impressive 72% IRR on its balance sheet stake. We estimate that post-this realisation, Mercia now has c.£65m net cash equating to ~40% current market cap, affording considerable flexibility and further opportunity for value creation. We retain ....
05 Jan 2022
Impressive 72% IRR on Faradion, cash now £65m
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Impressive 72% IRR on Faradion, cash now £65m
Mercia Asset Management PLC (MERC:LON) | 33.7 0.1 0.6% | Mkt Cap: 146.1m
- Published:
05 Jan 2022 -
Author:
Andrew Watson -
Pages:
3
Mercia has crystallised a further c.£7m gain (£19.4m cash receipt) as portfolio company Faradion is sold to Indian conglomerate Reliance. With headline £100m EV already announced (31/12), this morning’s completion has revealed that Mercia has generated an impressive 72% IRR on its balance sheet stake. We estimate that post-this realisation, Mercia now has c.£65m net cash equating to ~40% current market cap, affording considerable flexibility and further opportunity for value creation. We retain ....