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EQT to buy Italian price comparison site from Oakley Capital, minority investors

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EQT to buy Italian price comparison site from Oakley Capital, minority investors

EQT Partners AB's EQT VIII fund reached an agreement to acquire stakes in Italian online price comparison platform Facile.it from Oakley Capital Investments Ltd.'s Oakley Capital Private Equity II and other minority investors.

The transactions will see EQT VIII take a majority shareholding in Facile, while Capital Private Equity III will become a minority partner with an €80 million investment. Oakley Capital Investments' contribution to Fund III's investment in Facile is expected to be £28.6 million.

The sale is estimated to generate cash proceeds of about £52.2 million for Oakley Capital Investments, resulting in a 9.3 pence per share increase on the net asset value at the end of December 2017.

The companies did not disclose the value of the transaction, which is expected to conclude in June.

BofA Merrill Lynch was financial adviser to Facile on the deal, while Liberum Capital Ltd. acted as a nominated adviser and broker for Oakley Capital.