Sept 25 (Reuters) - British investment group Petershill

Partners ( PHLLF ) said on Thursday it plans to delist its shares

from London and return money to shareholders as the board has

become dissatisfied with the firm's share price performance and

valuation, dealing another blow to the UK equity market.

A subsidiary of Goldman Sachs Group Inc's ( GS ) asset management

division, Petershill ( PHLLF ) launched in 2007 and made its London market

debut in September 2021.

It said it would return $921 million of its capital to

shareholders, following a strategic review to improve

shareholder returns and market perception of the company.

"Despite the Company's strong operating and financial

performance and these strategic initiatives, the Company's share

price and valuation has, in the view of the Board, not

appropriately reflected the quality and underlying value of the

Company's assets, its strong financial performance and

attractive growth prospects," it said.

Under the proposal, its freefloat shareholders would get

$4.15 per in cash and an interim dividend of $0.052 per share,

totalling $4.202, representing a premium of about 35% to the

stock's last closing price.

The deal values the company at $4.5 billion.

(1 British pound = $1.3456)