Brief: Altisource Portfolio Solutions SA Agrees To Sell Its Financial Services Business For $44 Mln

Altisource Portfolio Solutions

29/03/2019 13:33

March 29 (Reuters) - Altisource Portfolio Solutions SA
 ASPS.O :
    * ALTISOURCE PORTFOLIO SOLUTIONS SA - ANNOUNCES DEFINITIVE
AGREEMENT TO SELL ITS FINANCIAL SERVICES BUSINESS
    * ALTISOURCE PORTFOLIO SOLUTIONS SA - ENTERED INTO
DEFINITIVE
AGREEMENT TO SELL ITS FINANCIAL SERVICES BUSINESS TO TRANSWORLD
SYSTEMS INC FOR $44 MILLION
    * ALTISOURCE PORTFOLIO -ESTIMATES IT WILL RECOGNIZE A PRETAX
GAIN
OF MORE THAN $20 MILLION FROM SALE, WHICH IS ANTICIPATED TO
CLOSE BEFORE END OF Q3 2019
    * ALTISOURCE - INTENDS TO USE $40 MILLION UP-FRONT PAYMENT,
SUBJECT TO A WORKING CAPITAL ADJUSTMENT, TO REPAY A PORTION OF
ITS SENIOR SECURED TERM LOAN

Source text: [http://bit.ly/2TKqdCp]
Further company coverage:  ASPS.O 

 (Reuters.Briefs@thomsonreuters.com)