The Carlyle Group is to dispose of its remaining 10.3% stake in Qinetiq, the former Ministry of Defence laboratories. Qinetiq was floated on the main market of the London Stock Exchange with a market capitalisation of £1.4bn in January 2006 at which point Carlyle reduced its stake earning £194m. The completion of a full exit is expected to see the investor bag more than £330m in total from the asset.
Vehicle is expected to hold a final close in March 2020, Unquote understands
Merger of German and Dutch peers will result in a client base of 3,500 companies
GP will support the Munich-based software company's growth by broadening its product offering
Ardian secured the asset following an auction process that included Macquarie and Allianz