(Alliance News) - NB Aurora SA SICAF-RAIF announced on Tuesday the signing of binding agreements regarding the sale of 49.9% of the equity investment portfolio, to be realized through the transfer of the direct stake equal to 49,9 percent in NB Aurora Holdings Sàrl and the direct shareholding equal to 4.9 percent of the units issued by the MIC Co-investment Fund, to the newly established closed-end investment fund named NB Aurora Co-Investment Fund II SICAV RAIF, also managed by NB AIFM Sàrl, the management company of NB Aurora.

The sale of the minority stake in the portfolio will take place at a fixed price of approximately EUR144.2 million determined on the basis of the latest available NAV of the portfolio as of March 31, 2023, supplemented by the purchase cost related to any investments completed after that date and not included in the aforementioned reference NAV.

"The sale transaction has a strategic value," the company explains in a note, "since on the one hand it will allow NB Aurora to realize part of the value generated by the portfolio so far and, on the other hand, it will enable it to raise financial resources that will be used to continue to support the expansion projects of leading SMEs in their market niches and with high growth potential, supporting the solid pipeline of opportunities present in this market phase for operators operating without (or with reduced recourse to) debt like NB Aurora.

"As a result of the sale in favor of the fund, which will be fully subscribed by third-party professional investors, NB Aurora will earn an estimated gross capital gain of between 15 percent and 25 percent of the price received, which will be allocated to the distribution of a dividend in accordance with NB Aurora's rules," the note further reads.

NB Aurora's stock closed Tuesday at a par at EUR8.35 per share.

By Chiara Bruschi, Alliance News reporter

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