Electra Partners has announced the sale of all its ordinary shares in the Hollywood Bowl Group for £40.7m.

The group said that subject to completion it has sold 26.7 million ordinary shares in the group at 152.5p.

Settlement of the placing is expected to take place on 11 April. Investec Bank plc is acting as Sole Bookrunner on the deal.

Earlier this week the group reported total revenue up 7.8% and like-for-like revenue up 1.2% for the six months to 31 March.