All portfolio Invesments history

2017

Acquisition by ECP III of a majority stake in Keesing Media Group

Acquisition

In September 2017, ECP III acquired a majority stake in Keesing Media Group (« Keesing »), the leading European publisher of games and puzzle magazines, from Telegraaf Media Group. The acquisition price for ECP III amounts to EUR 34 million.

Sale by ECP III to PAI Partners of its majority stake in ELITech

Sale

In July 2017, ECP III sold to PAI Partners its majority stake in ELITech, a manufacturer of specialty in-vitro diagnostics equipment and reagents. This transaction generated a net consolidated capital gain on disposal of EUR 104 million (GBL’s share).

Acquisition of Xeris & Ivantis

Acquisition

Acquisition by Mérieux Participations II (MP II) of a minority stake in Xeris Pharmaceuticals Inc. : biopharmaceutical company developing injectable therapeutics for multiple indications including diabetes Acquisition by MP II of a minority stake in Ivantis Inc., a company dedicated to the development of new and innovative solutions for glaucoma

Disposal of ELITech

Sale

ECP III reached an agreement with PAI Partners for the sale of ELITech Group, a manufacturer of specialty in-vitro diagnostics equipment and reagents
Estimated net consolidated capital gain on disposal of EUR 102 million (GBL’s share)

Equity investment in GEA

Acquisition

GEA Group (“GEA”) announced on 3 August 2017 that GBL had crossed the 3.0% threshold in the voting rights of the company. As of 31 December 2017, GBL holds 4.25% of the company’s capital.

Expected performance of KCO III in line with target returns

Acquisition

At 30 June 2017, Kartesia Credit Opportunities (KCO III) is now fully invested in primary and secondary transactions and has distributed to its investors a total amount of EUR 84 million, representing c.18% of capital called

Success of the inaugural institutional bond issue

EUR 500 million bond issue, with a coupon of 1.375% and maturing on 23 May 2024
Issuance allowing GBL to reinforce its liquidity profile, lengthen the debt maturity profile from 1.3 years at year-end 2016 to 3.5 years at end of June 2017 and further diversify its financing sources by successfully establishing the group’s credit quality on the institutional bond market