October 7, 2016 / 6:16 AM / 9 months ago

BRIEF-Electra Partners sells Vidal Group to M3 Inc

1 Min Read

Oct 7 (Reuters) - Electra Private Equity Plc

* Electra partners is pleased to announce that its portfolio company axio group has received a binding offer from m3, inc, to purchase vidal group , a leading european provider of reference drug information for healthcare professionals, for eur 100 million

* Sale of vidal would increase total cash proceeds received by electra from its investment in axio to almost £250 million, or 2.8x original cost, and total return, including electra's investment in remaining axio businesses, to 4.0x original cost

* Based on today's exchange rates, electra private equity plc ("electra") would receive proceeds from axio of £55 million, an uplift of £17 million on valuation of electra's investment at 31 march 2016 and equivalent to an increase in its nav of 35 pence per share Source text for Eikon: Further company coverage:

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