City Pacific has entered into an agreement to sell its financial services business, City Pacific Finance, to OneLend Corporation.
City Pacific, which provides diversified financial services, executed a conditional agreement for a sum of $2.2 million, settlement for which is expected to occur on December 12 this year.
City Pacific said in a statement to the Australian Securities Exchange that the company would still focus on funds management and property as it “continues to actively promote and negotiate with a number of interested parties in respect to the company’s other financial services subsidiaries”.
