UK events company Hyve Group sold to US private equity firm

Providence Equity Partners will pay 108p for each share - worth 610p before Covid sent sales plummeting

The events organiser Hyve Group has become the latest UK company to be sold to a private equity firm, sending its shares sharply higher.

In a joint statement, the US firm Providence Equity Partners said it had agreed a buyout deal paying 108p in cash for each Hyve share - valuing the international conference organiser at 481m. Hyve had previously rejected two offers worth 101p and 105p a share from Providence.