029 Group SE, DE000A2LQ2D0

029 Group SE / DE000A2LQ2D0

12.02.2024 - 14:35:24

029 Group SE: Successful Exit of Stake in Portfolio Company Emerald Stay

EQS-Ad-hoc: 029 Group SE / Key word(s): Miscellaneous

12-Feb-2024 / 14:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Berlin, 12 February 2024. 029 Group SE (ISIN: DE000A2LQ2D0), a global hospitality and lifestyle platform (the “Company”), announces that it successfully exited its entire stake in its portfolio company Emerald Stay S.A. (“Emerald Stay”). The transaction is structured as a secondary share sale and is expected to generate approx. EUR 1,6 mn of gross proceeds, reflecting a realized multiple on FY 2023 book value of around 2.3X (2.7X on invested capital). 029 Group Managing Director Lorin Van Nuland commented: „We are pleased with this successful exit, realizing a strong return in a highly challenging venture market. In addition, the Company’s shareholders will continue to have exposure to Emerald Stay through our investment in Limestone Capital AG, which remains one of the core shareholders of Emerald Stay.“
About 029 Group SE 029 Group SE believes that the next generation of consumer brands will be built on connection, experiences, and community. In a post-pandemic world, new patterns of work, life and leisure are emerging and accelerating. These trends create opportunities in hospitality and lifestyle for innovation-driven entrepreneurship with a strong community focus. 029 Group backs the most audacious entrepreneurs with a hands-on investment approach, focusing on areas where they can add significant value through their platform, global network and company building expertise. 029 Group is based in Berlin, Germany. For furter information, please see: https://www.029-group.com/   029 Group SE
Neue Schönhauserstr. 3-5
10719 Berlin
Email: ir@029-group.com

End of Inside Information

12-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: 029 Group SE
Neue Schönhauserstraße 3-5
10178 Berlin
E-mail: ir@029-group.com
Internet: www.029-group.com
Listed: Regulated Market in Dusseldorf, Munich
EQS News ID: 1835419

End of Announcement EQS News Service

1835419  12-Feb-2024 CET/CEST
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