Buyout firm Cinven to invest in Norway's Visma As

LONDON, April 28 Mon Apr 28, 2014 3:28am EDT

LONDON, April 28 (Reuters) - Buyout firm Cinven is investing in Norwegian software company Visma AS in a deal that values Visma at around 2.5 billion euros ($3.5 billion) including debt.

The investment makes Cinven a co-lead investor in Visma alongside HgCapital and Kohlberg Kravis Roberts (KKR). Each will have a 31.3 percent shareholding in the group, Cinven said in a statement on Monday.

Under the new structure, KKR, previously the majority owner of Visma, will sell down its 76 percent stake.

HgCapital, which has 16 percent of the shares, will sell out and reinvest 405 million pounds ($681 million) in the business through a new fund to bring its shareholding to 31.3 percent, it said on Monday.

Nordic institutional investors Ilmarinen and Storebrand and Visma management are also shareholders.

Visma, which provides software and services including accounting, tax and payroll systems to over 340,000 small and medium-sized businesses across the Nordic region, generated revenues of 778.5 million euros last year.

($1 = 0.7227 Euros)

($1 = 0.5948 British Pounds) (Reporting by Clare Hutchison; Editing by Mark Potter)

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