Secondary blocks market rolls on with aplomb

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By Sam Kerr
17 Feb 2021

Two sizeable block trades priced on Tuesday evening demonstrated appetite for sell-downs after several quite weeks while companies were in earnings blackouts. Bankers expect more sales in the next few weeks as bullish equity investors line up to take on risk.

The larger of the two sales was a €587.4m sale in German remote access software firm TeamViewer by private equity firm Permira; the share sale was worth 6.56% of TeamViewer’s share capital.

The shares were sold at €44.50 each, a 4.3% discount to the closing price on ...

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