FinLab AG — M&A Activity 2013

Jan 24, 2013

News Details

Corporate | 24 January 2013 14:05

Altira AG sells 40-percent stake in Clearsight Investments AG to management

Altira AG / Key word(s): Disposal

24.01.2013 / 14:05

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• Since being founded in 2008, the private equity fund-of-funds boutique Clearsight has successfully placed two funds with a total volume of around Euro 255 million

• Altira AG rapidly implementing previously announced process of focusing on core business of 'German SME Financing'

Within its strategic realignment, Altira AG (Altira) has, with approval from its Supervisory Board, sold its 40-percent stake in the Swiss-based private equity fund-of-funds boutique Clearsight Investments AG (Clearsight) to that company's management. The parties to the deal have agreed to maintain confidentiality concerning the price. Upon implementation of the transaction, Altira AG will no longer own any shares in Clearsight Investments AG.

With its focus on 'German SMEs and Restructuring', Altira supported Clearsight upon the foundation of its business in 2008, receiving 40 percent of the shares in Clearsight Investments AG in return.

Comments David Zimmer, CEO of Altira AG: 'Following its foundation, Clearsight incepted an initial fund, successfully closing and investing this with a volume of Euro 95 million at the beginning of 2010. Given the strong performance of this fund, the company managed to fully place a second fund with a volume of Euro 160 million with institutional investors in 2011 already. We would like to thank the management for cooperating with us on a basis of trust and wish Clearsight every success for the future.'

With this sale, Altira AG is pressing ahead with the rapid implementation of focusing its investment activities on its core business of 'German SME Financing', a process already announced at the end of 2012. Accordingly, the overwhelming majority of the company's investments and subsidiaries is to be independently positioned, developed further and, where appropriate, sold.

Contact:

Altira Aktiengesellschaft

Sylvia Faber

Tel: +49 69 719 12 80 0

E-Mail: investor-relations@altira-group.de

End of Corporate News

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Language:	English
Company:	Altira AG
	Grüneburgweg 18
	60322 Frankfurt / Main
	Germany
Phone:	+49 (0)69 719 12 80 – 0
Fax:	+49 (0)69 719 12 80 – 011
E-mail:	info@altira-group.de
Internet:	www.altira-group.de
ISIN:	DE0001218063
WKN:	121806
Listed:	Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt

End of News	DGAP News-Service

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