Close Brothers is selling its Cayman Islands trust, fiduciary services, fund administration and banking business to Intertrust Group Holding, Reuters reports. The sale is valued at $34 million.
The deal is expected to be completed by the end of the current financial year, adds RTT News. Close Brothers, which owns 85% of the Cayman Islands trust, fiduciary services and fund administration business and 100% of the banking business, is offloading its entire holding.
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