 "IL&FS")
The board of directors of Infrastructure Leasing and Financial Services (IL&FS) has decided to sell the firm's stake in IL&FS Securities Services (ISSL) and ISSL Settlement and Transaction Services (ISTSL). The two subsidiaries are engaged in professional clearing services and equity and other derivatives, and commodities derivatives services, respectively, said a company spokesperson.
Arpwood Capital and JM Financial are the financial and transaction advisors, while Alvarez and Marsal are the resolution consultants.
A statement from the board says they are "cognizant that these
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