Hogg Robinson Shareholders Approve Sale Of Fraedom Business

LONDON (Alliance News) - Corporate services provider Hogg Robinson Group PLC said on Monday it has received near unanimous shareholder approval for the sale of its software-as-a-service business Fraedom for GBP141.8 million to Visa.

As a result, the sale is expected to be completed on Wednesday.

Following the sale, Hogg Robinson's business will comprise solely of its travel management company HRG.

Shares in Hogg Robinson were up 0.9% at 118.00 pence on Monday.