Sage Group PLC Disposal of Polish Business (9911H)
December 09 2020 - 1:00AM
UK Regulatory
TIDMSGE
RNS Number : 9911H
Sage Group PLC
09 December 2020
Disposal of Polish business
9 December 2020
In its full year results announcement on 20 November 2020, T he
Sage Group plc ("Sage") announced that its Polish business was held
for sale. Sage today announces that it has entered into an
agreement for the sale of this business to funds advised by Mid
Europa Partners LLP.
For the year ended 30 September 2020, Sage's Polish business
achieved revenue of GBP21m (FY19: GBP19m) and operating profit of
GBP4m (FY19: GBP4m). The sale consideration is approximately
GBP66m, payable in cash on completion (subject to a customary net
debt and working capital adjustment). The transaction, which is
subject to antitrust approval, is expected to complete in early
2021.
Enquiries
The Sage Group plc +44 (0) 191 294 3457
James Sandford, VP, Investor Relations
Amy Lawson, EVP Communications
Derk Bleeker, Chief Corporate Development Officer
FTI Consulting +44 (0) 20 3727 1000
Charles Palmer
Dwight Burden
About Sage
Sage is the global market leader for technology that provides
small and medium businesses with the visibility, flexibility and
efficiency to manage finances, operations and people. With our
partners, Sage is trusted by millions of customers worldwide to
deliver the best cloud technology and support. Our years of
experience mean that our colleagues and partners understand how to
serve our customers and communities through the good, and more
challenging times. We are here to help, with practical advice,
solutions, expertise and insight.
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