EQS-Ad-hoc: 029 Group SE / Key word(s): Miscellaneous
029 Group SE: Successful Exit of Stake in Portfolio Company Emerald Stay
The transaction is structured as a secondary share sale and is expected to generate approx. EUR 1,6 mn of gross proceeds, reflecting a realized multiple on FY 2023 book value of around 2.3X (2.7X on invested capital).
029 Group Managing Director Lorin Van Nuland commented: „We are pleased with this successful exit, realizing a strong return in a highly challenging venture market. In addition, the Company’s shareholders will continue to have exposure to Emerald Stay through our investment in Limestone Capital AG, which remains one of the core shareholders of Emerald Stay.“
029 Group SE believes that the next generation of consumer brands will be built on connection, experiences, and community. In a post-pandemic world, new patterns of work, life and leisure are emerging and accelerating. These trends create opportunities in hospitality and lifestyle for innovation-driven entrepreneurship with a strong community focus. 029 Group backs the most audacious entrepreneurs with a hands-on investment approach, focusing on areas where they can add significant value through their platform, global network and company building expertise. 029 Group is based in Berlin, Germany.
For furter information, please see: https://www.029-group.com/
029 Group SE
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12-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|029 Group SE
|Neue Schönhauserstraße 3-5
|Regulated Market in Dusseldorf, Munich
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|EQS News Service
1835419 12-Feb-2024 CET/CEST