(Reuters) -British lender Close Brothers said on Friday it has agreed to sell market maker Winterflood Securities to financial services company Marex Group for approximately 103.9 million pounds ($
Close Brothers Agrees to Sell Winterflood to Marex for $140 Million
(Reuters) -British lender Close Brothers said on Friday it has agreed to sell market maker Winterflood Securities to financial services company Marex Group for approximately 103.9 million pounds ($140.20 million) in cash.
Close Brothers, which is streamlining its portfolio to focus on its core lending business, said it was the "right time" to sell Winterflood, a liquidity provider to over 500 stockbrokers, wealth managers, investors and other market participants.
The deal is expected to close in early 2026.
($1 = 0.7411 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Eileen Soreng)
