StockMarketWire.com - Software company Sage said it had agreed to sell its Brazilian assets to local management for up to £10m.

The acquisition sum included a £1m payment plus deferred consideration of up to £9m.

Sage said it expected to record a non-cash loss of £15m, of which £11m reflected the reclassification of foreign exchange losses.

The transaction was expected to complete within the next two months.




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