NBPE Nb Private Equity Partners Limited

 
TIDMNBPE 
 
 
   NBPE Announces Valuation Uplift Following the Announced Acquisition of 
Patheon 
 
   17 May 2017 
 
   NB Private Equity Partners ("NBPE" or the "Company") today announces an 
increase in valuation of its second largest equity position, an 
investment in Patheon (NYSE: PTHN). This follows Patheon's announcement 
on 15 May 2017 that it was to be acquired by Thermo Fisher for $35 per 
share. 
 
   As of 31 March 2017, Patheon represented approximately 2.3% of NBPE's 
diversified portfolio, with a fair value of approximately $17.3 million. 
At the acquisition price of $35 per share, NBPE's position is valued at 
approximately $22.9 million, resulting in a valuation uplift of 
approximately $5.6 million, or $0.12 per Share to NBPE's 31 March 2017 
carrying value. On 15 May 2017, the closing price of Patheon was $34.60 
per share. 
 
   Patheon is a pharmaceutical contract development and manufacturing 
organization. NBPE initially invested in Patheon in March 2014 alongside 
JLL Partners.  Thermo Fisher's acquisition of Patheon represents a 
purchase price of approximately $7.2 billion, including the assumption 
of approximately $2.0 billion of net debt. 
 
   The transaction, which is expected to be completed by the end of 2017, 
is subject to the satisfaction of customary closing conditions, 
including the receipt of applicable regulatory approvals, the adoption 
of certain resolutions relating to the transaction at an Extraordinary 
General Meeting of Patheon's shareholders, and completion of the tender 
offer. 
 
   For further information, please contact: 
 
   NBPE Investor Relations          +1 214 647 9593 
 
 
 
   Neustria Partners                     +44 20 3021 2580 
 
   Nick Henderson 
Nick.Henderson@neustriapartners.com 
 
   Robert Bailhache 
Robert.Bailhache@neustriapartners.com 
 
   Charles Gorman 
Charles.Gorman@neustriapartners.com 
 
   ABOUT NB PRIVATE EQUITY PARTNERS LIMITED 
 
   NBPE is a closed-end private equity investment company with class A 
ordinary shares admitted to trading on Euronext Amsterdam and the 
Premium Segment of the Main Market of the London Stock Exchange. NBPE 
has 2017 ZDP shares admitted to trading on the Specialist Fund Segment 
of the London Stock Exchange and the Daily Official List of The 
International Stock Exchange and 2022 ZDP Shares admitted to trading on 
the Specialist Fund Segment of the Main Market of the London Stock 
Exchange. NBPE holds a diversified portfolio of direct equity 
investments, direct income investments and fund investments selected by 
the NB Alternatives group of Neuberger Berman, diversified across 
private equity asset class, geography, industry, vintage year, and 
sponsor. 
 
   ABOUT NEUBERGER BERMAN 
 
   Neuberger Berman, founded in 1939, is a private, independent, 
employee-owned investment manager. The firm manages equities, fixed 
income, private equity and hedge fund portfolios for institutions and 
advisors worldwide. With offices in 19 countries, Neuberger Berman's 
team is more than approximately 1,900 professionals, as of May 1, 2017. 
The company was named the #1 firm in Pensions & Investments 2016 Best 
Places to Work in Money Management survey (among those with 1,000 
employees or more). Tenured, stable and long-term in focus, the firm 
fosters an investment culture of fundamental research and independent 
thinking. It manages $267 billion in client assets as of March 31, 2017. 
For more information, please visit our website at www.nb.com. 
 
   This press release appears as a matter of record only and does not 
constitute an offer to sell or a solicitation of an offer to purchase 
any security. 
 
   NBPE is established as a closed-end investment company domiciled in 
Guernsey. NBPE has received the necessary consent of the Guernsey 
Financial Services Commission and the States of Guernsey Policy Council. 
NBPE is registered with the Dutch Authority for the Financial Markets as 
a collective investment scheme which may offer participations in The 
Netherlands pursuant to article 2:66 of the Financial Markets 
Supervision Act (Wet op het financial toezicht). All investments are 
subject to risk. Past performance is no guarantee of future returns. The 
value of investments may fluctuate. Results achieved in the past are no 
guarantee of future results. This document is not intended to constitute 
legal, tax or accounting advice or investment recommendations. 
Prospective investors are advised to seek expert legal, financial, tax 
and other professional advice before making any investment decision. 
Statements contained in this document that are not historical facts are 
based on current expectations, estimates, projections, opinions and 
beliefs of NBPE's investment manager. Such statements involve known and 
unknown risks, uncertainties and other factors, and undue reliance 
should not be placed thereon. Additionally, this document contains 
"forward-looking statements." Actual events or results or the actual 
performance of NBPE may differ materially from those reflected or 
contemplated in such targets or forward-looking statements. 
 
   THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR 
DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE 
UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: NB Private Equity Partners Limited via Globenewswire 
 
 
  http://www.nbprivateequitypartners.com 
 

(END) Dow Jones Newswires

May 17, 2017 02:01 ET (06:01 GMT)

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