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BRIEF-3i Group says to sell stake in jewellery brand John Hardy
July 31, 2014 / 2:45 PM / 3 years ago

BRIEF-3i Group says to sell stake in jewellery brand John Hardy

July 31 (Reuters) - 3i Group Plc :

* Has agreed to sell its stake in John Hardy in conjunction with Catterton’s acquisition of the brand

* CEO Damien Dernoncourt will retain an equity stake in the company

* Total proceeds received represent a 1.9x money multiple on 3i Group’s original investment of 15 mln stg

* Proceeds to company, including dividend repayments, sale of preferred shares and its 22.4 pct stake, will be about 26 mln stg

* Further 2 mln stg is anticipated in deferred consideration Further company coverage:

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