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STM sells Gibraltar trust services, tax compliance businesses
StockMarketWire.com
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Cross-border financial services group STM said it had sold its Gibraltar-based trust and company services business and its tax compliance business for about £2.45 million.
The transaction also included 'net assets upon completion' of around £0.57 million.
'The sale complements the company's strategy to focus on its core activities of pension administration and life assurance,' STM said.
'The sale proceeds will be used to fund organic growth opportunities and further support the group's M&A strategy.'
Story provided by StockMarketWire.com
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