JZ Capital Partners Sells Fidor Bank Stake For USD34.3 Million

LONDON (Alliance News) - Investment firm JZ Capital Partners Ltd on Monday said it has sold its ...

Alliance News 1 August, 2016 | 9:06AM
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LONDON (Alliance News) - Investment firm JZ Capital Partners Ltd on Monday said it has sold its equity interest in German online lender Fidor Bank AG.

JZ has sold its undisclosed stake in Fidor, founded in 2009, for around USD34.3 million to Groupe BPCE, the second-largest banking group in France.

It had held the stake in its EuroMicrocap Fund 2010 since August 2013 and has invested a total of USD18.4 million in Fidor.

"Proceeds from the sale will help fund the company's growing pipeline of opportunities in Western Europe and the US," said David Zalaznick, JZ's founder and investment adviser.

Shares in JZ were untraded on Monday morning, having last traded at 448.55 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
JZ Capital Partners Ord/Inc 90.50 GBX 0.00 -

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