BC Partners Internal restructuring

RNS Number : 4051C

Foxtons Group PLC

14 March 2014

 



Foxtons Group plc

BC PARTNERS SHAREHOLDERS COMPLETE INTERNAL RESTRUCTURING OF FOXTONS SHAREHOLDING

Foxtons Group plc ("Foxtons") has been notified by BC Partners Limited ("BC Partners") that, as referred to in the prospectus published by Foxtons dated 20 September 2013 (the "Prospectus"), each of Adnams BBPM Holdings Limited ("Adnams Holdings") (formerly the major shareholder of Foxtons) and Adnams BBPM Group Limited ("Adnams Group") (being the parent company of Adnams Holdings) has been placed into members' voluntary solvent liquidation in connection with an internal restructuring of the Adnams group.

Following interim distributions made by the joint liquidators of Adnams Holdings and Adnams Group on 14 March 2014, the entities comprising the BC European Capital VIII fund (a private equity fund advised by BC Partners) ("BC Partners Shareholders") became the beneficial owners of, in aggregate, 62,243,610 ordinary shares in Foxtons (representing 22.06% of Foxtons' issued share capital), and funds managed or advised by Partners Group AG ("Partners Group Shareholders") became the beneficial owners of, in aggregate, 726,449 ordinary shares in Foxtons (representing 0.26% of Foxtons' issued share capital).

The distribution by the joint liquidators of Adnams Group was made to the BC Partners Shareholders and the Partners Group Shareholders in proportions which reflect their respective interests in the share capital of Adnams Group.  Consequently, this distribution has neither increased nor reduced the ultimate interest any BC Partners Shareholder or Partners Group Shareholder has in Foxtons.

The 62,970,059 ordinary shares in Foxtons held by the BC Partners Shareholders and the Partners Group Shareholders remain subject to the lock-up arrangement entered into by Adnams Holdings as referred to in the Prospectus.

For more information please contact:

BC Partners

Stefano Quadrio Curzio

Tel: [phone]

Foxtons Group plc

Gerard Nieslony

Tel:  [phone]

 

END

 

 

HOLUSRWRSNAOAAR