NEWCASTLE UPON TYNE (dpa-AFX) - The Sage Group plc (SGE.L) has entered an agreement for the sale of its Brazilian business to local management for approximately 1 million pounds payable on completion, plus deferred consideration of up to 9 million pounds. Sage expects to report a statutory non-cash loss on disposal of 15 million pounds on completion of the deal.
The Group said the divestiture is part of its strategy to focus on subscription software solutions that are in or have a pathway to the Sage Business Cloud.
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