Brief: Latitude Group Holdings Announces Agreement To Sell Hallmark Insurance Business

Latitude group

08/08/2022 02:24

Aug 8 (Reuters) - Latitude Group Holdings Ltd  LFS.AX :
    * ANNOUNCES AGREEMENT TO SELL HALLMARK INSURANCE BUSINESS
    * ENTERED INTO AGREEMENT TO SELL LATITUDE INSURANCE HOLDINGS
TO ST
ANDREW'S INSURANCE GROUP FOR A$20.3 MILLION
    * SALE WILL ALLOW LATITUDE TO RELEASE A$90 MILLION OF
CAPITAL INTO
ITS CORE BUSINESS
    * EXPECTED TO RECORD A POST-TAX LOSS OF APPROXIMATELY A$30
MILLION
ON SALE
    * COMPLETION OF TRANSACTION EXPECTED TO OCCUR BETWEEN LATE
Q4 2022
AND Q1 2023

Source text for Eikon:  ID:nASX3RQzFf 
Further company coverage:  LFS.AX 

 ((Reuters.Briefs@thomsonreuters.com;))