An update from Close Brothers Group ( (GB:CBG) ) is now available.
Close Brothers Group has successfully completed the sale of its wealth management business, Close Brothers Asset Management (CBAM), to Oaktree Capital Management. This strategic move is part of Close Brothers’ efforts to strengthen its capital base and focus on core business operations, with an expected increase in the common equity tier 1 capital ratio by approximately 120 basis points. The transaction is anticipated to yield a gain of around £59 million, enhancing the company’s financial position and simplifying its operations.
More about Close Brothers Group
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, and securities trading services. The company employs approximately 4,000 people, primarily in the United Kingdom and Ireland, and is listed on the London Stock Exchange.
YTD Price Performance: 73.35%
Average Trading Volume: 427
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $621.8M
For an in-depth examination of CBG stock, go to TipRanks’ Stock Analysis page.