Sofinim NV, the private equity subsidiary (74%) of the Ackermans & van Haaren (AvH) group has completed the sale of its 25% stake in Aviapartner to Aviapartner LH3 SARL. Aviapartner LH3 SARL is a vehicle backed by 3i, Europe's leading private equity investor, and in which certain managers of the Aviapartner group have invested.
Sofinim has, as announced on 20 July, realised a capital gain on the sale of about € 33 million, which represents approximately € 24 million at the AvH level (part of the group).
Sofinim has realised an 'IRR' of 16.5% on this investment (1995-2005).
Ackermans & van Haaren is a diversified group active in 3 key sectors: dredging, environmental and construction services (DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere, a leading contractor in Belgium), financial services (Bank Delen, one of the largest independent private asset managers in Belgium - Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions - Leasinvest-Extensa, an important real estate developer and investor in Belgium/Luxembourg) and private equity (Sofinim, one of the largest private equity providers in Belgium with an EVCA-valuation of € 300 million).
The group concentrates on a limited number of strategic participations with an important potential for growth. Market capitalisation of AvH is approximately € 1.2 billion.
AvH is included in the BEL Mid index and is a member of Euronext Next Prime.
All press releases issued by AvH and its most important group companies as well as the 'Investor Presentation' can also be consulted on the AvH website: www.avh.be.
Antwerp, 20 September 2005
For further information please contact:
Luc Bertrand
CEO - Chairman of the Executive Committee
tel: +32.3.231.87.70
e-mail : dirsec@avh.be
Jan Suykens
CFO - Member of the Executive Committee
tel: +32.3.897.92.13
e-mail : dirsec@avh.be
