Arrow Global and MCS Groupe
FOR IMMEDIATE RELEASE
25 July 2017
Arrow Global Group PLC
(“Arrow Global” or the “Company” and together with its subsidiaries the “Group”)
Arrow Global and MCS Groupe
Arrow Global Group plc notes the announcement by MCS Groupe (“MCS”) that Louvre Bidco, a French company controlled by funds advised by BC Partners, has signed a put option agreement relating to the acquisition of 100% of the securities issued by Promontoria MCS Holding, the holding company of Promontoria MCS, from certain affiliates of Cerberus Capital Management, L.P. and certain managers of the MCS group. Arrow Global has held a 15% economic interest since 2014.
Completion of the contemplated acquisition would be subject to the approval of the relevant competition authorities, and while the terms of the transaction remain confidential, subject to completion, the sale of MCS is expected to result in a one-off net gain for Arrow Global.
Lee Rochford, Group Chief Executive of Arrow Global, said: “MCS Groupe has been a highly successful investment for Arrow Global. While the sale is still yet to complete, we believe that this investment will have provided excellent value to our shareholders.
“Arrow Global continues to see significant growth opportunities in our five European markets of operation and we remain confident and disciplined in achieving our medium term targets.”
Arrow Global +44 (0)161 242 5885
Lee Rochford, Group CEO
Robert Memmott, Group CFO
Anthony Frost, Group Communications
Instinctif Partners +44 (0)20 7457 2020
Forward looking statements
This announcement contains statements that constitute forward-looking statements relating to the business, financial performance and results of the Group and the industry in which it operates. These statements may be identified by words such as “expectation”, “belief”, “estimate”, “plan”, “target”, or “forecast” and similar expressions or the negative thereof; or by forward-looking nature of discussions of strategy, plans or intentions; or by their context. All statements regarding the future are subject to inherent risks and uncertainties (including the completion of the sale of MCS Groupe) and various factors could cause actual future results, performance or events to differ materially from those described or implied in these statements. Such forward-looking statements are based on numerous assumptions regarding the Group’s present and future business strategies and the environment in which the Group will operate in the future. Further, certain forward looking statements are based upon assumptions of future events which may not prove to be accurate and neither Arrow Global nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. The forward-looking statements in this document speak only as at the date of this announcement and Arrow Global assumes no obligation to update or provide any additional information in relation to such forward-looking statements.