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
Hildred Capital closes $800m healthcare private equity fund
Hildred Capital Management closed its third fund, Hildred Equity Partners III, raising over $800m....
Providence Equity explores £1bn sale of CloserStill Media amid sector growth
Providence Equity Partners is considering the sale of CloserStill Media, a UK-based events...
Barry’s Bootcamp expands global footprint with Princeton Equity Group investment
Barry’s Bootcamp, the renowned boutique fitness brand, has secured new funding from Princeton...