Intermediate announces exits

Intermediate Capital Group yesterday said it had exited two of its top 20 investments, netting it millions. It said an A$70m (£43m) mezzanine investment into Hoyts Group made in 2005 had been sold with proceeds totalling A$126m. It also said a €93.75m investment in Team Systems had been exited, netting the company €113.9m. However, it will continue to hold a minority equity investment within the group, it added.