Date: Wednesday 20 Nov 2013
LONDON (ShareCast) - Fund manager HgCapital has announced that Kallisto, one of its wholly-owned companies, has agreed to the acquisition of 91.85 per cent of the outstanding shares of P&I Personal & Informatik, a payroll and transactional HR software provider in Germany.
The acquisition, which is subject to German and Austrian competition clearance, is expected to reduce the trust's liquid resources to an estimated total of £110.4m (25.6% of the October 31st 2013 net asset value).
The transaction will also reduce the trust's outstanding commitments to participate in investments (all of which are managed by HgCapital) to an estimated £292.4m, it explained.
In addition, Kallisto has announced its intention to make a tender offer for the acquisition of the balance of shares in issue of P&I, HgCapital said.
NR
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Share Price | 490.00p |
Change Today | -3.50p |
% Change | -0.71 % |
52 Week High | 500.00 |
52 Week Low | 353.50 |
Volume | 269,652 |
Shares Issued | 457.73m |
Market Cap | £2,242.87m |
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Value |
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Price Trend |
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Growth |
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Strong Buy | 0 |
Buy | 0 |
Neutral | 3 |
Sell | 0 |
Strong Sell | 0 |
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