Lithuanian internet service provider Baltic Classifieds Group PLC announced on Monday that Antler, controlled by funds advised by private equity firm Apax Partners LLP, has sold its remaining 13% stake for £156 million ($202.5 million).
Antler sells entire stake in Baltic Classifieds : Stake Sold to Institutional Investors
Antler Equity Co. Sarl divested approximately 59 million shares to institutional investors, raising £146 million. Additionally, it sold 4.2 million shares of the company, generating around £10 million. This substantial transaction marks the complete exit of Antler from Baltic Classifieds.
Role of BofA Securities Europe SA
BofA Securities Europe SA served as the sole global coordinator for the placing. The settlement and off-market purchase of the placing are anticipated to occur on July 17. This transaction follows the approval by Baltic shareholders at their annual general meeting in September.
Antler sells entire stake in Baltic Classifieds : Baltic’s Financial Performance
For the financial year ending in April, Baltic reported profits of £38.3 million, a decrease of 31.6% from the £29.1 million recorded in the previous year. Shares in Baltic, listed on the FTSE 250 index of the London Stock Exchange, were valued at 272.5 pence each on Monday afternoon, down 1.6% from 277 pence at Friday’s close.
No Immediate Comments from Involved Parties
Requests for comment from Baltic, Antler, and Apax have not yet been answered. The counsel information for the parties involved remains unavailable.
