(Alliance News) - HgCapital Trust PLC on Tuesday said it will invest GBP4.7 million in Citeline, which has agreed to merge with Norstella.
Citeline is a provider of research & development intelligence to the pharmaceutical industry. Norstella provides pharmaceutical consultancy services.
Hg, manager of HgCapital, announced the investment. The merger is expected to close in the second half of 2022 subject to customary closing conditions and regulatory approvals.
HgCapital is a technology-focused investment trust that participates in the private equity investments of manager Hg. This investment will reduce HgCapital's outstanding commitments to invest in Hg transactions to around GBP605 million.
Shares in HgCapital closed down 4.5% at 340.00 pence in London on Tuesday.
By Lucy Heming; lucyheming@alliancenews.com
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HgCapital Trust plc (HGT)