MVC Capital (MVC) Exploring Options for USG&E; Hires Investment Bank as Advisor
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MVC Capital, Inc. (NYSE: MVC) has engaged a Tier I investment bank to lead the pursuit of strategic alternatives for USG&E to maximize shareholder value, including a public equity offering (potentially in Canada) or a sale, which could monetize all or a portion of the Fund’s investment.
USG&E, headquartered in North Miami Beach, Florida, is a retail energy marketer that sells natural gas and electricity to residential and small commercial customers. Due to organic growth in the Company and through strategic acquisitions which the Fund arranged, MVC’s positions in USG&E have grown to be approximately 20% of the Fund’s portfolio as of January 31, 2012. A monetization event is being sought for fiscal 2012.
USG&E, headquartered in North Miami Beach, Florida, is a retail energy marketer that sells natural gas and electricity to residential and small commercial customers. Due to organic growth in the Company and through strategic acquisitions which the Fund arranged, MVC’s positions in USG&E have grown to be approximately 20% of the Fund’s portfolio as of January 31, 2012. A monetization event is being sought for fiscal 2012.
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