Hg, the manager of HgCapital Trust Plc (HGT.L), said on Tuesday that it has agreed to sell Dext Software Ltd., a bookkeeping automation platform provider, to IRIS Software Group, a provider of accountancy, education management, HR, and payroll solutions.
The financial terms of the transaction were not disclosed. The transaction is subject to closing conditions and is expected to be finalized by the end of this calendar year.
This transaction values HgT's investment in Dext at around 32.7 million pounds. This would represent an uplift of 3.6 million pounds over the carrying value of 29.1 million pounds in the Net Asset Value or NAV of HgT as of 30 September.
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