Disposal of Polish Business
Updated : 07:04
Disposal of Polish business
9 December 2020
In its full year results announcement on 20 November 2020, The 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 +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
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