StockMarketWire.com - Software group Micro Focus International said it had agreed to sell its Suse business segment to a group advised by EQT Partners for $2.54bn.

The unit had been purchased by Germany's Blitz 18-679, a newly incorporated subsidiary of the fund EQTVIII, which was advised by EQT Partners, the company said.

Proceeds from the sale would be used to pay down debt and for general corporate purposes.

There may also be a return to shareholders 'through whatever mechanism the board may in its discretion determine at the relevant time', Micro Focus said.

'Micro Focus believes EQT provides a strong long-term investor for the Suse business and allows Micro Focus to continue to focus upon its longstanding and consistent strategy of delivering value to customers and shareholders through effective management of infrastructure software assets in an increasingly consolidating sector,' the company said.




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