Private equity investor Permira lowered its stake in German software company TeamViewer by selling shares to institutional investors at 41 euros apiece, it said late on Wednesday, giving it proceeds of 1.03 billion euros ($1.1 billion).
With the placement of the 25 million shares, Permira [PERM.UL] cuts its stake in TeamViewer to 39% from 51.5%.
Its shares were down 5.9% in early trade on Thursday.
TeamViewer this week reported a 75% jump in first-quarter billings as people around the world used its remote connectivity services to work from home during the coronavirus pandemic.
Shares in the group have gained more than 70% since they started trading last year and Permira in March already sold an 11% stake worth 700 million euros to cash in on the performance.
Source: Reuters
Can’t stop reading? Read more
RedBird Capital plots fresh bid for Telegraph Media Group as UK ownership saga nears resolution
RedBird Capital plots fresh bid for Telegraph Media Group as UK ownership saga nears resolution...
Toyota’s $42bn bid to simplify empire draws private equity interest
Toyota’s $42bn bid to simplify empire draws private equity interest Toyota Chairman Akio Toyoda is...
Bain Capital and KPS circle Iveco’s €1.5bn defence unit as private equity interest in military assets surges
Bain Capital and KPS circle Iveco’s €1.5bn defence unit as private equity interest in military...