Gumtree offloads capital markets arm to ADVFN in $6.8 million deal to sharpen marketplace focus
PERTH: Gumtree Australia Markets Ltd. (ASX: GUM) has signed a binding agreement to sell its capital markets businesses—HotCopper in Australia and Stockhouse in Canada—to ADVFN Ltd. for $6.8 million in cash, the company announced Monday. The deal, expected to close the same day, will reduce Gumtree’s debt by $4.8 million and generate $2 million in…