LONDON (Alliance News) - Charles Stanley Group PLC Wednesday said it has signed an exclusive deal with Panmure Gordon (UK) Ltd over the sale of much of its securities division.
In a statement, Charles Stanley said it has entered into an exclusive heads of terms agreement with Panmure Gordon.
A sale would not include the division's equity sales trading operations.
"At this stage no assurance can be given that the planned disposal will proceed," Charles Stanley said.
Charles Stanley had confirmed it was in talks over the sale of its securities division back in March.
Charles Stanley shares were down 0.2% at 389.88 pence on Wednesday, while Panmure Gordon & Co PLC shares were up 0.3% at 137.90p.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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