Listed investment firm Salvepar has completed exits for three of its portfolio companies, realising nearly €24m.
The Paris-quoted investment group has accepted an offer of €9.2m for its entire stake in Polygon from co-founder Olivier Ginon. The group’s shareholding was valued at €5.7m as of 30 June last year.
In addition, Salvepar has disposed its stake in Euronext listed business STEF – which had a book value of €7.8m at 30 June – for €8m.
Salvepar also announced that as a result of the sale of Qualium Investissement’s sale of its shareholding in Socotec, its mezzanine bonds – valued at €5.8m last year – have been redeemed for €6.7m.
Salvepar, 92 per cent owned by Tikehau Group, takes minority stakes of between five and twenty per cent in dividend paying businesses with growth potential.
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