Apax Sells £51.5 Million of Shares in Baltic Classifieds Group
01.19.24
This is only gets display when printing
Simpson Thacher is advising Antler EquityCo S.à r.l (“Antler”), which is controlled by funds advised by Apax Partners LLP (“Apax”), in connection with the sale of 25 million ordinary shares in the capital of Baltic Classifieds Group PLC (“BCG”) at a price of 206 pence per share, raising gross sale proceeds of £51.5 million. BCG is listed on the main market of the London Stock Exchange.
The sale comprises (i) 23.5 million ordinary shares of BCG being sold by Antler by way of an accelerated bookbuild to institutional investors, raising gross sale proceeds of approximately £48.4 million, and (ii) 1.5 million ordinary shares of BCG being sold by Antler to BCG by way of an off-market purchase, for approximately £3.1 million, pursuant to a contract between Antler and BCG, which was approved by the shareholders of BCG at its Annual General Meeting on 27 September 2023.
The Simpson Thacher team included James Howe, Lucy Gillett, Deborah Harris and Antony Freeman (Corporate).