SGT German Private Equity GmbH: receives approval from CFIUS for the acquisition of Utimaco by SGT Capital
+++ Press release +++
SGT German Private Equity receives CFIUS approval for the acquisition of Utimaco by SGT Capital
Frankfurt am Main, November 26, 2021 – SGT German Private Equity in Frankfurt (SGF), a listed private equity asset manager, announces that the Committee on Foreign Investment in the United States (CFIUS) has completed its in-depth review of the transaction in Utimaco, including SGT Capital and its officers, and granted approval. This and other approvals are needed to complete the Utimaco acquisition, which was signed in August 2021.
Utimaco is a global leader in high-end cybersecurity software headquartered in Aachen, Germany, and Campbell, California, and viewed by the US and German governments as having national security implications. , requiring the approval of CFIUS as such. The CFIUS process included the participation of the US Department of Homeland Security and the review of the proposed transaction, as well as SGT Capital and its principals.
The closing of the transaction remains subject to the approval of the Bundesministerium für Wirtschaft und Energie. If this approval was not granted before the end of the year, it would also become subject to approval by UK authorities, due to Brexit and an exemption from this approval requirement ending on 12.31.21.
The transaction is expected to close shortly after all necessary approvals have been granted. Equity invested in Utimaco in the three-digit range of millions of euros will be managed by SGT Capital Pte. Ltd. (SGTPTE), a wholly owned subsidiary of SGF.
Despite the first closing of its new Private Equity fund, SGT Capital Fund II, having been linked to the closing of the Utimaco transaction and therefore delaying a bit, SGTPTE management expects SGTPTE to be profitable already in 2021. Asset management activity SGT German Private Equity’s model is not affected by the Covid-19 pandemic.
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About SGT German Private Equity
SGT German Private Equity is a German-based listed private equity asset manager headquartered in Frankfurt am Main. Its wholly-owned subsidiary SGT Capital Pte. Ltd. is a global manager of alternative investments and private equity headquartered in Singapore.
For its new sector-independent SGT Capital Fund II, with a geographic focus on Europe and North America and a ten-year lifespan, SGT is aiming for a target fundraising volume of 1 to 3 billion USD. The management team has many years of experience in renowned locations – global private equity firms, management consulting firms and investment banks.
Since its inception as a leading German provider of venture capital under the German Startups Group brand, SGT German Private Equity has also held a historic portfolio of minority stakes in some promising German startups.
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More information on https://www.sgt-germanpe.com/ and https://www.sgt-capital.com/
SGT German Private Equity GmbH & Co. KGaA published this content on November 26, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 26, 2021 13:59:09 PM UTC.