Exclusive-Warburg Pincus nears deal to buy Germany's PSI for more than 700 million euros, sources say
Home » Exclusive-Warburg Pincus nears deal to buy Germany's PSI for more than 700 million euros, sources say

Exclusive-Warburg Pincus nears deal to buy Germany's PSI for more than 700 million euros, sources say

by Inkhabar webdesk
Exclusive-Warburg Pincus nears deal to buy Germany's PSI for more than 700 million euros, sources say

By Alexander Hübner and Christoph Steitz MUNICH/FRANKFURT (Reuters) -Private equity firm Warburg Pincus is nearing a deal to buy German software maker PSI Software in a deal worth more than 700 million euros ($813 million), two people familiar with the matter said. The transaction would value PSI at 45 euros per share, the sources said, a premium of more than a third over Friday's closing price. A deal could be announced as soon as Monday, one of the people said, adding the deal had yet to be formalised and details could still change. PSI and Goldman Sachs, which is running the sales process, both declined to comment. Warburg Pincus was not immediately available for comment. PSI Software, which makes software for energy networks, last week confirmed it was in advanced discussions with Warburg Pincus, Thoma Bravo and HgCapital regarding the conclusion of an investment agreement and a potential takeover offer. German utility E.ON, which is a major customer as well as PSI's second-largest investor with almost 18% of its shares, intends to hold onto its stake, sources told Reuters last week. ($1 = 0.8607 euros) (Reporting by Alexander Huebner and Christoph Steitz; Editing by Ros Russell)

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