UK's Petershill Partners sells majority stake in General Catalyst for $726 mln (updated)
16/01/2025 07:28
(Adds details in paragraphs 2 and 3)
Jan 16 (Reuters) - British investment group Petershill
Partners PHLL.L said on Thursday it sold its majority stake in
venture capital firm General Catalyst for $726 million.
Petershill Partners said it intends to pay a special
dividend of 14 cents per share, amounting to $151 million,
reflecting the return to shareholders of the majority of the net
gain made on the disposal.
The company also said it plans to retain the majority of
the net proceeds from the sale for new investments.
(Reporting by Raechel Thankam Job; Editing by Savio D'Souza and
Varun H K)
((RaechelThankam.Job@thomsonreuters.com;))