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An announcement from Close Brothers Group ( (GB:CBG) ) is now available.
Close Brothers Group has announced the sale of its subsidiary, Close Brewery Rentals Limited (CBRL), to MML Keystone, a fund managed by MML Capital. This strategic move aligns with Close Brothers’ priorities to simplify its portfolio and enhance operational efficiency. The sale is expected to generate a modest gain and capital benefit, without materially impacting the group’s adjusted operating profit. Despite divesting CBRL, Close Brothers will continue to focus on the beverage finance market, offering finance solutions for brewery and distillery equipment, seeing attractive growth opportunities in this sector.
The most recent analyst rating on (GB:CBG) stock is a Buy with a £4.63 price target. To see the full list of analyst forecasts on Close Brothers Group stock, see the GB:CBG Stock Forecast page.
Spark’s Take on GB:CBG Stock
According to Spark, TipRanks’ AI Analyst, GB:CBG is a Neutral.
Close Brothers Group’s score is driven by strong technical indicators and positive corporate events, indicating a bullish outlook. However, financial performance challenges and an unfavorable valuation due to a negative P/E ratio constrain the score. The company’s strategic shift and management alignment initiatives add confidence in its long-term potential.
To see Spark’s full report on GB:CBG stock, click here.
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 3,000 people, primarily in the United Kingdom and Ireland, and is listed on the London Stock Exchange as a constituent of the FTSE 250.
Average Trading Volume: 614,311
Technical Sentiment Signal: Sell
Current Market Cap: £582.7M
Find detailed analytics on CBG stock on TipRanks’ Stock Analysis page.