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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Close Brothers Group Plc | LSE:CBG | London | Ordinary Share | GB0007668071 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 458.80 | 457.60 | 458.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Asset - Backed Securities | 1.01B | 81.1M | - | N/A | 0 |
TIDMCBG
RNS Number : 7527A
Close Brothers Group PLC
14 September 2018
Disposal of retail point of sale finance business -------------------------------------------
Close Brothers Group plc ("the group" or "Close Brothers") today announces the sale of Close Brothers Retail Finance, which provides unsecured finance to consumers through retailers, to Swedish payment solutions group Klarna Bank AB. The sale is expected to complete in the current calendar year, subject to regulatory approval and other customary conditions.
The sale reflects the group's decision to exit the unsecured retail point of sale finance market after gradually and incrementally developing this business and assessing the market opportunity over the last several years. The group has concluded that the business does not provide a long-term fit with our predominantly secured business model.
The Business had a loan book of GBP66 million at 31 July 2018. It will be treated as a discontinued operation in the group's forthcoming full-year results.
Enquiries
Close Brothers Group Sophie Gillingham plc 020 7655 3844 Close Brothers Group Liya Dashkina plc 020 7655 3468 Close Brothers Group Matt Bullivant plc 020 7655 3698 James McFarlane Maitland 020 7379 5151
About Close Brothers
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. We employ over 3,300 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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September 14, 2018 02:00 ET (06:00 GMT)
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