Disposal of Polish Business

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 £21m (FY19: £19m) and operating profit of £4m (FY19: £4m).  The sale consideration is approximately £66m, 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 [phone]

James Sandford, VP, Investor Relations

Amy Lawson, EVP Communications

Derk Bleeker, Chief Corporate Development Officer

FTI Consulting [phone]

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.

 

END

 

 

DISUWORRRNUURUA