Electra Private Equity Plc (LSE:ELTA) as put itself up for sale. The company's strategic review set out the strategy of optimizing value for shareholders through an evaluation of return on invested capital versus a return of cash to shareholders. The continued strong private equity market, particularly for secondary sales, has led the Board to choose to undertake a third, final phase of the review to evaluate the acceleration of selective divestment of some or all of the portfolio, including exploring offers for the company as a whole, as a means of maximizing shareholder value. The Panel on Takeovers and Mergers has agreed that any discussions with third parties with regards to the potential sale of the entire issued and to be issued share capital of the company may be conducted within the context of a 'formal sale process'. The company is not currently in receipt of any approach with regard to a possible offer for the company and is not in talks with any potential offeror. The company has received expressions of interest from several parties regarding certain groupings of portfolio assets and also for the entire portfolio. No discussions regarding the entire portfolio are currently ongoing and discussions around certain groupings of assets are at an early stage and there can be no certainty that these discussions will result in a transaction acceptable to the Board. It is currently expected that any party interested in participating in the formal sale process, will, at the appropriate time, enter into a non-disclosure and standstill agreement with the company on terms satisfactory to the Board. The Company then intends to provide such interested parties with certain information on the portfolio assets and the business, following which interested parties shall be invited to submit their proposals to Greenhill. The company engaged Greenhill & Co. International LLP as a advisor for the sale process.