Spread betting operator London Capital Group (LCG) has finalised a deal to sell its Direct Market Access financial spread betting business ProSpreads Limited to Apostar Holdings Ltd, a privately-held Gibraltar-registered company.

LCG will receive £1.5m in cash for the business, a premium described as “above the net asset value”, with the group expected to make a net profit of £0.1m on disposal in the form of a transfer of securities held in ProSpreads.

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GIQ Magazine