CML has previously highlighted its intent to sell its ‘non core’ businesses
Last Thursday, CML confirmed that the sale of its payroll business, Lester Associates has now completed.
The sale will deliver to CML approximately $3.5m in cash, of which $1.8m is goodwill.
The sale is positive as it simplifies the company and allows capital and management time to be focused towards CML’s core finance business.
CML’s media release is available here.
Director - Credit Research, Industrials and Corporates. Will has over 15 years’ experience in credit and fixed income markets, including 6 in London, working at fund managers, banks and government treasury.