Close Brothers Group PLC (LSE:CBG) has completed the sale of Winterflood Securities to Marex after securing regulatory approval.
The group said the transaction, first announced in July, closed on 1 December.
Close Brothers confirmed that Winterflood’s results up to completion will continue to be reported as discontinued operations in its financial statements.
In October, Close Brothers said the sale supports its strategy to simplify its portfolio, improve efficiency and drive long-term growth.
It said it had decided this was the right time to sell Winterflood following a review of its portfolio. The group is shifting its emphasis to lending, aiming to maximise returns in its main business areas.