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SIX Group to sell card payments unit around Q3

SIX Group AG will offload a majority stake in its SIX Payment Services unit by the end of the second quarter or the start of the third quarter, Reuters reported March 21, citing CEO Jos Dijsselhof.

The Swiss stock exchange operator was reported in September 2017 to be weighing a sale of the card payments unit, said to be worth CHF2 billion. The company reportedly hired JPMorgan to explore options including a stock market listing or a minority stake sale for the subsidiary.

The group separated cards and payments processing from the core business in 2017, the newswire noted.