Brief: Altisource Announces Sale Of Property Management Resources To Front Yard Residential Corp

Altisource Portfolio Solutions SA

09/08/2018 13:01

Aug 9 (Reuters) - Altisource Portfolio Solutions SA
 ASPS.O :
    * ALTISOURCE ANNOUNCES SALE OF PROPERTY MANAGEMENT RESOURCES
TO
FRONT YARD RESIDENTIAL CORPORATION
    * ALTISOURCE PORTFOLIO - EXPECTS TO RECOGNIZE GAIN FROM DEAL
IN Q3
& INTENDS TO USE $15 MILLION IN CASH PROCEEDS FROM DEAL TO REPAY
ITS SENIOR TERM LOAN
    * ALTISOURCE PORTFOLIO SOLUTIONS - FRONT YARD WILL MAKE
UPFRONT
PAYMENT OF $15 MILLION TO CO WITH ADDITIONAL $3 MILLION TO BE
PAID AS PER CERTAIN CONDITIONS

Source text for Eikon:  ID:nGNX84g4c7 
Further company coverage:  ASPS.O 

 (Reuters.Briefs@thomsonreuters.com)