March 4, 2020

Permira sells TeamViewer shares for 700 million euros

Nicolas Cole

Bolstered by the increased need to work from home, shares of TeamViewer – a remote desktop software company – have recently jumped, leading Permira to take the opportunity to sell an 11% stake in the company. Permira’s sale of 22m shares at €32 each demonstrated a strong gain for the shares which had gone for €26.25 in September 2019.

Shares had risen approximately 25% since the end of February and  TeamViewer has been one of the few listed companies to grow on stock markets during the downward slide of the past weeks.

As a result of the transaction, Permira  reduces its stake in the company by 11 percentage points to 51.5 percent. It has set a 90-day lock-up period during which it will not sell any more shares

Source: Die Presse

Nicolas Cole

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