Man Group to sell remaining stake in MF Global

Man Group has agreed a deal to sell its 18.6% stake in MF Global – the futures and options brokerage that was spun off in the hedge fund manager’s initial public offering of 2007.

Man Group said on August 12 that it had entered into a three-to-four year variable forward sale agreement with Nomura International that guaranteed it an initial payment of $112m. However, deal also allows Man Group it to profit from any appreciation in MF Global’s share price over the next three...