ASX-listed technology expansion capital fund Bailador Technology Investments Limited is selling its stake in SMI (Standard Media Index) for $20 million.
Bailador, co founded by former Fairfax CEO David Kirk, says it has entered into an agreement to sell all of its securities in SMI, the advertising spend and pricing data company.
The buyer has not been identified.
The sale price represents an uplift of about 67% to the current carrying value. The holding was valued in the latest Bailador annual report at $9.6 million.
Bailador: "The sale price is subject to final adjustments, including for the level of working capital and net debt (including transaction costs) in SMI at closing.
"The agreement is subject to certain conditions to closing, including foreign investment regulatory approval."
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