BUZZ-Investcorp BDC shares soar after acquisition agreement with BCP Investment

November 12 - ** The private credit fund Investcorp Credit Management BDC ICMB.O shares surged 72.9% in afternoon trading to $1.07

** BC Partners-owned BCP Investment Corporation BCIC.O will acquire the company at 90% of ICMB's adjusted net asset value

** BCIC shares fell 15%

** “This transaction marks another step forward in achieving our vision to drive consolidation in the BDC industry” — BCIC CEO Ted Goldthorpe

** This deal comes weeks after Ares Capital ARCC.O — the largest listed BDC — acquired Apollo’s MFIC for $2.6 billion (link)

** Houlihan Lokey served as financial advisor to Investcorp BDC’s special committee on this transaction

** As of the close of the previous trading day, ICMB shares had fallen 77.1% year to date

(To facilitate non-native English speakers, Reuters has automated the translation of its reports into several other languages. As automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for the convenience of readers. Reuters assumes no responsibility for any damages or losses arising from the use of the automated translation function.)