Class 1 disposal of the Russian Business of Hyve Group plc
Deal TypeCapital markets & Transaction Services
IndustryTechnology & Media
Sub-IndustryMedia and entertainment
ClientHyve Group plc
On 13 May 2022, Hyve Group plc completed the sale of its Russian Business. Consideration was wholly structured as an earn out of up to £72 million, payable in cash over a ten-year period. The group also retained c.£10m from the Russian business prior to closing the sale.
The sale of the Russian business accelerated the Group's portfolio refocus towards advanced economies and omnichannel-ready sectors, whilst providing stability for the local team and crystalising some value for shareholders.
BDO acted as reporting accountant on the Class 1 disposal.