(Reuters) - Australia's Link Administration Holdings Ltd said on Thursday it would sell its corporate and private clients business to fund administrator Apex Group Ltd for 240 million pounds ($315.17 million).
The investment service provider said in a statement it expected a post-tax gain on completion of the sale and would use the proceeds to reduce its debt.
As at June 30, 2018, the company's net debt stood at A$557 million ($404.75 million), according to Link Administration Holdings' annual report.
(Reporting by Shriya Ramakrishnan in Bengluru; editing by Darren Schuettler)
