Reuters (London) has sold its ORT SAS Group (Paris) to Coface (Paris), a unit of Natexis Banques Populaire, for 46.6 million [pounds sterling] in cash as well an additional consideration of up to 1 milllon [pounds sterling].Reuters (London) has sold its ORT SAS Group The SAS Group (OSE: SAS, OMX: SAS) is a company based in Stockholm, Sweden. The company is owned by SAS Danmark A/S, SAS Norge AS and SAS Sverige AB, those companies are owned by SAS AB. SAS Group owns several airlines in Europe. (Paris) to Coface (Paris), a unit of Natexis Banques Populaire, for 46.6 million [pounds sterling] in cash as well an additional consideration of up to 1 milllon [pounds sterling]. ORT is a provider of credit, financial, commercial and legal information for markets in the UK, France, and Belgium. ORT had profit before taxes of 6.7 million [pounds sterling] and net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. as of the end of 2003 of 16.2 million [pounds sterling], including 10 million [pounds sterling] in cash. Also, Reuters has acquired the remaining 50% stake of ICor Brokerage Ltd. (London), its Joint venture with ICor JV Holdings, an electronic derivatives derivatives In finance, contracts whose value is derived from another asset, which can include stocks, bonds, currencies, interest rates, commodities, and related indexes. Purchasers of derivatives are essentially wagering on the future performance of that asset. broker. ICor Brokerage provides electronic brokerage services for the global inter-bank foreign exchange options and interest rate derivatives An interest rate derivative is a derivative where the underlying asset is the right to pay or receive a (usually notional) amount of money at a given interest rate. The interest rate derivatives market is the largest derivatives market in the world. markets. |
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