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Company News

BRIEF-Home Capital exits non-core businesses including sale of payment services interactive gateway

Oct 16 (Reuters) - Home Capital Group Inc:

* Home Capital exits non-core businesses including the sale of payment services interactive gateway

* Expects approximately $20 million in annual salary and other operating cost savings

* Resulting impact to net income on a full year basis is insignificant from sale of assets

* Company expects reduction in fee and other income of approximately $18 million from sale of businesses

* Agreed to enter into a transition services agreement and will continue to provide services for certain clients for up to a year

* Does not expect any significant costs to complete sale transaction Source text for Eikon: Further company coverage:

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