Man Group nets $3bn as it finally exits MF Global

Man Group netted a total of just over $3bn (€2.1bn) from the sale of MF Global brokerage arm, a business it had once valued at close to $5bn.

The London-based hedge-fund specialist sold its remaining 18.6% stake in MF Global Thursday after the expiration of a lock-up agreement, raising a guaranteed $112m through a forward-sale agreement.

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