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Internet Capital Group completes $100M sale of ICG Asia

Published on .

Wayne, Pa.--B-to-b holding company Internet Capital Group Inc. has completed the sale of ICG Asia, its Hong Kong-based subsidiary, to Hutchison Whampoa Ltd. and Reading Investments Ltd., both based in Hong Kong, for $100 million. The deal gives Internet Capital Group a needed cash infusion. The company's stock shares are trading in the low single-digits, off a 52-week high of $45.18. The acquisition was announced June 20.
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