JZ Capital Ptnrs Ltd JZ Capital Partners Announces Sale of Petrocorner

 
TIDMJZCP TIDMJZCN 
 
JZ CAPITAL PARTNERS ANNOUNCES SALE OF PETROCORNER 
 
            Approximately EUR12.1 million in gross proceeds realised 
 
15 January 2019 
 
JZ Capital Partners Limited (LSE: JZCP.L or "JZCP"), the London listed fund 
that invests in US and European microcap companies and US real estate, is 
pleased to announce the sale of Petrocorner, a network of petrol stations 
throughout Spain, to a Spanish subsidiary of British Petroleum ("BP"). JZCP 
owns Petrocorner through its 18.75% stake in JZI Fund III, L.P. 
 
Headquartered in Madrid, Petrocorner is a strategic build-up in the Spanish 
retail petrol station market, comprised of 65 petrol stations located across 
Spain with annualized sales volume of approximately 250 million litres of 
petrol. 
 
JZCP, which owns Petrocorner through its 18.75% stake in JZI Fund III, L.P., 
expects to receive cumulative gross proceeds of EUR12.1 million from the sale 
(including interim proceeds and escrows). This represents a gross multiple of 
invested capital ("MOIC") of approximately 2.0x and a gross internal rate of 
return ("IRR") of approximately 23.0%. 
 
David Zalaznick, JZCP's Founder and Investment Adviser, commented: "Petrocorner 
was a highly successful result of our buy-and-build strategy in the retail 
petrol sector. Our management partners did a superb job and we thank them for 
all their hard work. 
 
For JZCP, the Petrocorner sale represents a further step towards our primary 
goal to achieve liquidity through realisations and refinancings. We hope to 
report on additional liquidity events throughout 2019." 
 
                                     Ends 
 
For further information: 
 
Ed Berry / Kit Dunford                  [phone] / 1143 
FTI Consulting 
 
David Zalaznick                         [phone] 
Jordan/Zalaznick Advisers, Inc. 
 
Samuel Walden                           [phone] 
Northern Trust International Fund 
Administration Services (Guernsey) 
Limited 
 
 
About JZCP 
 
JZ Capital Partners ("JZCP") is one of the oldest closed-end investment 
companies listed on the London Stock Exchange. It seeks to provide shareholders 
with a return by investing selectively in US and European microcap companies 
and US real estate. JZCP receives investment advice from Jordan/Zalaznick 
Advisers, Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They 
have worked together for more than 35 years and are supported by teams of 
investment professionals in New York, Chicago, London and Madrid. JZAI's 
experts work with the existing management of micro-cap companies to help build 
better businesses, create value and deliver strong returns for investors. For 
more information please visit www.jzcp.com. 
 
 
 
END 
 

(END) Dow Jones Newswires

January 15, 2019 02:00 ET (07:00 GMT)