Sage Group Plc disposes of Brazilian business

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Sage Group Plc disposes of Brazilian business

Sage Group Plc (LON: SGE) has informed about the disposal of Brazilian business.

  • The company has stated that subsequent to an auction process, it has agreed for the sale of its Brazilian business to local management.
  • The disposal is as per the company’s policy to concentrate on solutions of subscription software that are in or will have a trail to the Sage Business Cloud.
  • The sale to the local management will yield the company around £1 million payable on completion, while it will also receive a deferred consideration of up to £9 million.
  • On 2nd March 2020, at the time of writing, GMT 08:19 AM, SGE shares were trading at GBX 703.20, up by 21.40 points or 3.14% against the previous day closing price.

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