City Pacific to sell financial services business
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”.
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