29th May 2018 09:04
LONDON (Alliance News) - HgCapital Trust said Tuesday that Visma Group has agreed to buy human resources software firm Raet, both companies in which HgCapital has investments.
The deal values HgCapital's investment in Raet at GBP26.4 million and represents a GBP6.2 million uplift on the carrying value of its Raet holding at the end of April of GBP20.2 million. As a result, HgCapital's pro-forma net asset value is expected to rise to GBP737.3 million or 1,975.3 pence per share.
HgCapital Trust shares were trading up 0.6% at 1,911.67 pence on Tuesday.
The trust already owns 49% of business software firm Visma, according to the Visma website.
Justin von Simson, managing partner at Hg, HgCapital Trust's manager, said: "Visma submitted a compelling offer for Raet and, by working together, we can see that there are great advantages for both companies and their customers going forward."
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