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E*TRADE FINANCIAL Completes Sale of E*TRADE Access to Cardtronics

Thursday 1 July 2004 00:11 CET | News

E*TRADE FINANCIAL Corporation has completed the sale of substantially all of the assets of the Companys ATM operating subsidiary, E*TRADE Access, to Cardtronics, LP for $106 million cash. E*TRADE FINANCIAL expects to recognize a pre-tax gain of $55 million at the close of the sale. The transaction closed on June 30, 2004 pursuant to the agreement announced June 3, 2004. E*TRADE Bank customers will continue to have free access to all ATMs bearing the E*TRADE FINANCIAL brand. Under the terms of the sale of E*TRADE Access, E*TRADE FINANCIAL will retain certain branding rights through an agreement with Cardtronics.

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Categories: Payments & Commerce | Payments General
Countries: World
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