Sale of cashgate's rental guarantee business
Zurich - cashgate AG, a 100% subsidiary of Cembra Money Bank AG, has reached an agreement with a group of real estate management companies to sell the rental guarantee business currently operating under the SmartCaution brand.
The parties have mutually agreed to not disclose the purchase price. Cembra Money Bank AG will reflect the transaction in the 2019 financials and maintains its communicated earnings per share (EPS) guidance for 2019.
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