Further to the announcement on 27 September, Electra Private Equity PLC (“Electra”) is pleased to announce the completion of the sale of its interest in specialist credit card provider, SAV Credit (“SAV”), to Värde Partners.
Electra has received proceeds of £40.8 million which, based on the 31 March 2011 valuation of SAV, gives rise to an uplift in diluted NAV per share of 58p, and a return of 1.7x on cost.
