DST Systems Sells $485 Million In Assets To Lower Debt

DST Systems Inc. brought in $485.4 million in pretax cash proceeds from the sale of various investments and real estate in 2012, contributing to a nearly 27 percent reduction of its outstanding debt. The Kansas City company reported the numbers today in a release announcing its financial results for 2012 and the fourth quarter.

DST’s sale proceeds included $35.7 million for reducing its stake in Boston-based State Street Corp. and $41 million for selling back the company’s interest in Leawood-based Euronet Worldwide Inc.

The sales come amidst pressure from DST shareholders for the company to unload noncore assets and refocus on data-processing operations.

Read more in the Kansas City Business Journal

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