June 2, 2017 / 2:32 PM / 3 months ago

BRIEF-Sage Group sells U.S. payments unit for $260 mln

June 2 (Reuters) - Sage Group Plc:

* Disposal of North American payments business

* Announces sale of its North American payments business to GTCR LLC

* Says enterprise valuation for transaction is $260 mln of which $240 mln is payable as cash on completion and remaining $20 mln as deferred consideration

* Transaction is subject to certain completion conditions and is expected to complete in next 3 months

* Proceeds will be used to reduce net debt and invested in growth Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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