Kallisto Neunzigste Vermögensverwaltungs GmbH, a company owned by the financial investor HgCapital, has signed a purchase agreement on the acquisition of Argon GmbH, the majority shareholder in P&I Personal & Informatik AG, and also intends to make a voluntary public takeover offer to P&I Personal & Informatik AG’s shareholders. Argon GmbH was previously owned by the financial investor Carlyle.

P&I Personal & Informatik AG’s shareholders would receive consideration in cash in the amount of 50 euros per no-par-value bearer share from Kallisto. The management and supervisory boards will respond to the offer, in accordance with legal requirements, once the offer documentation has been received.

P&I is one of the most important companies in the European human resources sector, delivering innovative software for every aspect of personnel management. Founded in 1968, P&I is currently the driving force behind more than 15,000 European customers, including large computing centres as well as international HR service providers.

A Linklaters team led by Dr Nikolaos Paschos (Corporate, Düsseldorf) advised P&I Personal & Informatik AG. Other team members included Sebastian Goslar, Kristina Klaaßen and Dr Hubertus Witte (all Corporate, Düsseldorf).