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HG Capital Trust agrees to sell stake in STP to Bregal Unternehmerkapital in £15.1m deal
StockMarketWire.com
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Software investor HG Capital Trust said it had agreed to sell its stake in STP, a DACH-based provider of legal tech solutions, to Bregal Unternehmerkapital, in a deal worth £15.1 million.
The terms of the transaction, which was subject to customary anti-trust approvals, with closing expected later this year, were not disclosed.
This transaction valued HGT's investment in STP at approximately £15.1 million, representing an uplift of £5.6 million, or 60%, over the carrying value of £9.5 million in the net asset value of HGT at 31 August 2020.
Based on the 31 August 2020 reported net asset value, the pro-forma NAV of the trust was expected to be £1.16 billion, or 284 pence per share.
Story provided by StockMarketWire.com
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