StockMarketWire.com - 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