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 companyâs 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 Â£1 million payable on completion, while it will also receive a deferred consideration of up to Â£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.