Brief: Skillsoft To Sell Sumtotal To Cornerstone For $200 Mln

Skillsoft

13/06/2022 11:22

June 13 (Reuters) - Skillsoft Corp  SKIL.N :
    * PRESS RELEASE - SKILLSOFT ENTERS AGREEMENT TO SELL
SUMTOTAL TO
CORNERSTONE FOR $200 MILLION
    * SKILLSOFT ENTERS AGREEMENT TO SELL SUMTOTAL TO CORNERSTONE
FOR
$200 MILLION
    * SKILLSOFT CORP - PROPOSED DEAL EXPECTED TO BE ACCRETIVE TO
SKILLSOFT'S BOOKINGS AND REVENUE GROWTH
    * SKILLSOFT CORP - PROPOSED DEAL FOR WILL USE A PORTION OF
NET
PROCEEDS FROM TRANSACTION TO PARTIALLY REPAY ITS SENIOR SECURED
TERM LOAN B FACILITY
    * SKILLSOFT CORP - COMPANY EXPECTS PRO FORMA FISCAL YEAR
2022 NET
LEVERAGE TO BE APPROXIMATELY 3.7X
    * SKILLSOFT CORP- RICHARD WALKER TO CONTINUE ROLE AS
SKILLSOFT
CHIEF CORPORATE STRATEGY, DEVELOPMENT OFFICER

Source text for Eikon:  ID:nBw48zQxza 
Further company coverage:  SKIL.N 

 ((Reuters.Briefs@thomsonreuters.com;))