HgCapital Trust plc (HGT.L) Monday announced that its manager Hg has agreed to sell the remaining investment in TeamSystem to funds advised by Hellman & Friedman LLC or H&F.
The terms of the deal have not been disclosed. The completion is subject to applicable closing conditions.
The transaction values HgT's investment in TeamSystem, a provider of business software solutions to businesses and accountants in Italy, Spain and Turkey, at around 24.3 million pounds.
Hg first invested in TeamSystem in 2010 as majority shareholder. In 2016, H&F acquired majority control.
Based on the March 31, 2024 reported NAV, the pro-forma NAV of HgT is expected to be 2.3 billion pounds or 511.6 pence per share.
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