Canada Pension Plan Investment Board (CPP Investments), through its wholly-owned subsidiary CPP Investment Board Europe Sarl., has signed an agreement for a sell-down of its stake in Visma, a leading provider of mission-critical cloud software in Europe.

The transaction is a partial realization of the existing stake to a pool of existing and new investors. CPP Investments will retain a ~2% stake in Visma. CPP Investments' net proceeds from the transaction are expected to be approximately $700 million.

The transaction is expected to complete in the second quarter of 2024.