Business management software provider Sage has completed the sale of four of its non-core assets, namely C&I, ATL, Automotive and Aytos.
The assets were sold as part of a seven-part deal which will earn the company £93.4m, the proceeds of which are being returned to shareholders.
Sage has previously said it will record a loss on disposal following completion of the transaction.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The transactions come as part of the group's plan to focus its business on growth acceleration and streamling of the portfolio.
NR
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
