| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
HG Capital Trust agrees to sell stake in Trace One to Symphony Technology
StockMarketWire.com
|
Software investor Hg said it had agreed a deal to sell its stake in retail business platform Trace One to Symphony Technology for an undisclosed sum.
This proposed sale, subject to French Workers' Council consultations and customary clearances, valued the company's investment in Trace One at approximately £5.8 million.
This would represent an uplift of £1.3 million, or 30%, over the carrying value of £4.4 million in the net asset value of HGT at 28 February 2021, the company said.
The company also announced that Mitratech, a provider of legal and compliance software, had agreed to a strategic investment from Ontario Teachers' Pension Plan.
Following completion of the transaction, Hg, would retain a minority interest.
'This transaction values HGT's investment in Mitratech at approximately £49.9 million, ... [representing] an uplift of £15.1 million (43% or 3.6 pence per share) over the carrying value of £34.8 million in the net asset value of HGT at 28 February 2021,' the company said.
At 8:00am: (LON:HGT) Hg Capital Trust PLC share price was 0p at 304p
Story provided by StockMarketWire.com
|
|
|
|
|
|
