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Permira Said Near Deal to Buy German Payroll Provider P&I

  • Owner HgCapital said to fetch more than $900 million for firm
  • Sale of software company may be announced as early as Monday
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Permira, the global buyout fund, is nearing an agreement to acquire German payroll provider Personal & Informatik AG in a deal valued at more than $900 million, according to people familiar with the matter.

The transaction could be announced as early as Monday, said the people, who asked not to be identified because talks are private. Owner HgCapital, which is making the first disposal from its seventh investment fund, will likely retain a minority stake in the business, said the people.