FONT-SIZE Plus   Neg

First Marblehead Sells Legacy Trust Administration Business For $13.7 Mln

First Marblehead Corp. (FMD) announced the sale of First Marblehead Data Services Inc., its legacy trust administration business, to Route 66 Ventures, Inc., d/b/a Goal Structured Solutions, for $13.7 million in cash. The Company expects to record a gain of approximately $12.5 million in the quarter ending March 31, 2012 related to this transaction.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Xbox Live users are aggravated about repeated outages that have prevented gamers from accessing online multiplayer features. Blaming higher egg prices and other rising costs, Dunkin's Donuts will close 100 stores, all of them Speedway gas station and convenience store locations. Micron Technology, Inc. said that its fourth quarter profit fell 59% from last year, as sales declined and gross margins deteriorated amid weak demand and pricing pressures due to continued softness in the personal computer market. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly sales.
comments powered by Disqus
Trade FMD now with 
Follow RTT