Manufacturing Industry
INVESTEC PLC - Investec (US) Incorporated.
PR Newswire UK Disclose, August, 2005
Investec plc ("Investec" or "the group")
Sale of US operations
Investec USA Holdings Corp., a subsidiary of Investec plc, has entered into a
stock purchase agreement to sell Investec (US) Incorporated, its registered
broker/dealer in the U.S., to Bank Hapoalim B.M., an Israeli-based banking
group. Investec sold the majority of its U.S. operations in 2002 and this
transaction effectively concludes the sale of its remaining U.S. operations,
which are non-core to the group's strategy going forward. Investec will
continue to provide UK and South African securities sales and trading services
to its U.S. client base.
The transaction has been approved by the boards of directors of both Investec
plc and Bank Hapoalim B.M. Completion of the transaction is subject to ...
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