Close Brothers Group (GB:CBG) has released an update.
Close Brothers Group plc has divested its asset management division to Oaktree Capital Management for an equity value of up to £200 million. The sale is expected to bolster Close Brothers’ capital base by about 100 basis points and refocus the company on its core lending business. The transaction is set to finalize in early 2025 subject to regulatory approvals, enhancing the group’s financial position and allowing for strategic reinvestment.
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