Reuters has sold its ORT SAS Group to Coface , a unit of Natexis Banques Populaire, for 46.6 million [pounds sterling] in cash as well an additional consideration of up to 1 milllon [pounds sterling]

Business Publisher, March 31, 2004

Reuters (London) has sold its ORT SAS Group (Paris) to Coface (Paris), a unit of Natexis Banques Populaire, for 46.6 million [pounds sterling] in cash as well an additional consideration of up to 1 milllon [pounds sterling]. ORT is a provider of credit, financial, commercial and legal information for markets in the UK, France, and Belgium. ORT had profit before taxes of 6.7 million [pounds sterling] and net assets as of the end of 2003 of 16.2 million [pounds sterling], including 10 million [pounds sterling] in cash.

Also, Reuters has acquired the remaining 50% stake of ICor Brokerage Ltd. (London), its Joint venture with ICor JV Holdings, an electronic derivatives broker. ICor Brokerage provides electronic brokerage services for the global inter-bank foreign exchange options and interest rate derivatives markets.