Brief: Sequoia Financial Group Announces Divestment Of 80% Of Morrison Securities

Sequoia Financial

09/03/2023 01:36

March 9 (Reuters) - Sequoia Financial Group Ltd
 SEQ.AX :
    * ANNOUNCES DIVESTMENT OF 80% OF MORRISON SECURITIES
    * ENTERED INTO A BINDING AGREEMENT TO DIVEST 80% OF ITS
EQUITY
INTEREST IN MORRISON SECURITIES PTY TO NEW QUANTUM HOLDINGS PTY
    * CO SET TO RECEIVE TOTAL CASH CONSIDERATION OF A$40.5M FOR
TRANSACTION
    * DIVESTMENT WILL SEE CURRENT CONSOLIDATED GROUP REVENUE
REDUCE BY
ABOUT 20% IN FY 2024

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