Warburg Pincus nears deal to buy Germany’s PSI for more than 700 million euros, sources say – The Economic Times

Personal fairness agency Warburg Pincus is nearing a deal to purchase German software program maker PSI Software in a deal value greater than 700 million euros ($813 million), two folks acquainted with the matter mentioned.

The transaction would worth PSI at 45 euros per share, the sources mentioned, a premium of greater than a 3rd over Friday’s closing value.

A deal could possibly be introduced as quickly as Monday, one of many folks mentioned, including the deal had but to be formalised and particulars might nonetheless change.

PSI and Goldman Sachs, which is working the gross sales course of, each declined to remark.

Warburg Pincus was not instantly out there for remark.

PSI Software program, which makes software program for power networks, final week confirmed it was in superior discussions with Warburg Pincus, Thoma Bravo and HgCapital relating to the conclusion of an funding settlement and a possible takeover provide.

German utility E.ON, which is a serious buyer in addition to PSI’s second-largest investor with nearly 18% of its shares, intends to carry onto its stake, sources advised Reuters final week.