Source - SMW
Alternative asset and corporate business services provider Sanne said it had agreed to sell its Jersey-based private client business to JTC for up to £12m.

The sale proceeds would be used to cut debt and would have a 'small dilutive' impact on Sanne's earnings.

'This transaction represents an important strategic move in focusing Sanne on its core, high growth global alternatives markets,' the company said.

'Following the transaction, Sanne's alternatives business will represent over 90% of the group's activities.'

Completion of the deal was  subject to the receipt of regulatory approvals and was anticipated 'during 2020'.

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