StockMarketWire.com - Private equity investor ICG Enterprise Trust said PAI Partners had reached an agreement to sell Roompot, an operator and developer of holiday parks in Northern Europe, to KKR.

The sale would result in a 'significant uplift' to the value of the ICG Enterprise Trust's holding in Roompot, which was the company's sixth-largest investment, representing 2.1% of the portfolio at 30 April 2020.

'Based on the expected net proceeds from the transaction, the company estimates the uplift would be equivalent to an increase in the net assets of the company of 1.3%, or 14p per share,' the company said.

The company originally invested in Roompot in 2016, alongside PAI Partners, a private equity manager.

The financial terms of the transaction had not been disclosed.

'The transaction is subject to customary closing conditions, with proceeds expected to be received in the third quarter of this calendar year,' it added.

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