logo
Plus   Neg
Share
Email

Cinven Sells Its Remaining Stake In Visma - Quick Facts

Hg, the Manager of HgCapital Trust plc (HGT.L), reported that Cinven is now selling the entirety of its remaining shareholding in Visma, a provider of business-critical software to private and public enterprises in the Nordic, Baltic and Benelux regions. Under the deal, Hg Saturn and its investors will make a further approximately 640 million euros equity investment in Visma, while CPPIB will make a further investment of approximately 110 million euros. The deal values Visma at an enterprise value of over 6.5 billion euros.

Following completion of the deal, Hg's managed funds will own approximately 63% of Visma, with co-investors. Hg has been the lead or co-lead investor in Visma from 2006. HgCapital Trust plc said it will invest approximately 19.5 million pounds in Visma.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Morgan Stanley has cut its worst-case forecast on Tesla Inc.'s share price from the previous estimate of $97 to just $10, dealing another blow to the luxury electric car maker. The worst-case or "bear case" scenario by Morgan Stanley analysts takes into account the risk posed if Tesla misses its current sales outlook for China by about half. Snap Inc. on Monday announced the promotion of two executives as the company restructures its management team. The parent company of messaging app Snapchat said it has appointed Derek Andersen, currently its vice president of finance, as chief financial officer. The company also named interim CFO Lara Sweet as its first chief people officer. Both appointments are effective immediately. Nike Inc., Adidas AG and other footwear companies have urged U.S. President Donald Trump to reconsider his proposed tariffs on shoes imported from China, noting that any increase in the cost of importing shoes has a direct impact on the American footwear consumer. In a letter, more than 170 footwear companies have urged the President to immediately remove footwear from the proposed tariffs.
Follow RTT