ECEX completes sale of Starman Group to Polaris
- cash consideration of EUR 83.6mEast Capital Explorer AB (publ) (“ECEX”) today announced that it has completed the sale of its 63 percent stake in Starman Group to OÜ Polaris Invest, a minority shareholder in Starman, that has exercised its pre-emption right. The transaction, originally announced on 14 March 2016 as a sale to Providence Equity, values Starman at an enterprise value of EUR 208m. The transaction crystallized a cash consideration to ECEX of EUR 83.6m, corresponding to an exit gain of EUR 37.5m and a gross IRR of 24 percent over 3.5 years. Mia Jurke, CEO of East Capital