Nelo Investments entered into an agreement to acquire Brazilian business from The Sage Group plc (LSE:SGE) for £10 million on March 1, 2020. Under the terms of the transaction, the sale consideration is approximately £1 million payable on completion, plus deferred consideration of up to £9 million. For the year ended September 30, 2019, Brazilian business achieved revenue of £53 million and operating profit of £2 million. The transaction is expected to complete within the next two months. Richard Browne, Laura Milward-Lynch, Benjamin Scrace, Karishma Brahmbhatt, James Burton Nigel Parker and Alex Tilley of Allen Overy and Augusto Cesar Barbosa de Souza, Vanessa Bertonha Felicio, Fernão Henrique Pio Rocha Moura de Castro, Bruno Barbosa and Adriana Rollo of Veirano acted as legal advisors for Sage. Russell Warren, Andrew Gillen, Sivanti Devakumar, Anita Sivapalan, James Longster and Victoria Robinson of Travers Smith advised the Brazilian management. Jose Diaz, Ana Paula Schedel and Julia Davet Pazos of Demarest advised the management. Rothschild & Co SCA acted as financial advisor to The Sage Group plc.