GIC to increase stake in family history tracing firm Ancestry
SINGAPORE sovereign wealth fund GIC will increase its stake in Ancestry, which is said to be the world's largest family history website. Ancestry helps people trace their history and relatives through family trees, historical records and DNA.
The deal values the company at an enterprise value of US$2.6 billion, which includes debt but excludes cash. Individual stakes as well as their values were not disclosed.
The deal will see the entry of technology private equity firm Silver Lake, which will take an equal minority position with GIC. Existing shareholders, including GIC, will continue to own a majority of the company.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
HSBC says growing Chinese wealth fuels client investments in US
Discussion on EU-Asean FTA has shifted towards cooperation in specific areas: DPM Heng
US core capital goods orders rise moderately in March
Chinese tourists are again embracing international travel
Abu Dhabi raises US$5 billion with first eurobonds in three years
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official