November 18, 2019 / 7:30 AM / 25 days ago

UK's Sage Group to sell payment processing unit for 232 mln pounds

Nov 18 (Reuters) - British software company Sage Group Plc said on Monday it will sell its payment processing unit Sage Pay for about 232 million pounds ($296.87 million) to Elavon, a payments company and unit of U.S. Bancorp.

Sage Group expects a statutory profit on the disposal of about 180 million pounds, following completion of the deal. ($1 = 0.7815 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta)

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