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Announced

Management & Jebsen Group to acquire C-Quadrat from HNA Group.

Financials

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Transaction Value-
Consideration Type-
Capital Owned-
Capital Bid For74%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Pending

Austria

Private

Asset Managers and Custodians

asset management services

Friendly

Single Bidder

Synopsis

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Alexander Schütz, C-Quadrat's founder and chief executive, together with board member Cristobal Mendez de Vigo will buy HNA's 74% in Austrian asset manager C-Quadrat, the vehicle through which HNA held the bulk of its stake in Deutsche Bank. Jebsen Group, a family-owned Hong Kong-based luxury goods distributor, is also taking a minority stake in C-Quadrant. Financial terms were not disclosed. HNA said that the sale of C-Quadrat was "consistent with HNA Group's progress in sharpening its strategic focus, strengthening its balance sheet and improving overall performance across the group."

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