NewMedia Spark, the technology incubator, has sold its 0.83 per cent stake in Deutsche Börse, the German stock exchange, for £23m. It has not disclosed the identity of the buyer.
The group inherited the investment in the exchange early last year when it bought a 54 per cent stake in Spütz, the German brokerage house. Spark then bought the rest of the business in September.
The cash from the sale comes at a convenient time for the company. It will serve to bolster the firm’s coffers following their depletion from £41.5m to £35m in the six months to the end of September last year.
At that time, the company also opted to write down its portfolio by £37.7m to leave its portfolio of 71 companies with a valuation of £145m.
Spütz retains shareholdings in Tullett & Tokyo Liberty, Lang & Schwarz and several other smaller businesses.
NewMedia Spark raises £23m
The Internet incubator has exited from its investment in Deutsche Börse, the German stock exchange.