Security Pacific to Sell Brokerage Stake: The...
From Times Staff and Wire Reports
Security Pacific to Sell Brokerage Stake: The Los Angeles bank said managers of Hoare Govett in London will buy 51% of the brokerage for an undisclosed amount, with Security keeping the remaining 49%. Security, which paid about $95 million for Hoare Govett, bought 30% of the brokerage in 1982 and 100% in 1987. Security said last year that it might sell a chunk of Hoare Govett.
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