11 March 2020 - Further to the announcement dated 18 November 2019, The Sage Group plc ("Sage") confirms that it has completed the disposal of Sage Pay to Elavon, a leading global payments company and wholly owned subsidiary of U.S. Bancorp, for a cash consideration of approximately £232 million (subject to a customary post-completion net debt and working capital adjustment).
Reflecting the sale proceeds from the Sage Pay disposal, Sage also today confirms that the £250 million capital return, announced on 20 November 2019, will be executed via a share buy-back programme which is expected to commence shortly. Further details of this buy-back programme will be provided in a separate announcement.
The Sage Group plc +44 (0) 191 294 3897
James Sandford, Investor Relations
Derk Bleeker, Corporate Development
Amy Lawson, Media
FTI Consulting +44 (0) 20 3727 1000
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