05:09 PM EDT, 09/30/2024 (MT Newswires) -- Dundee Corp (DC-A.TO) on Monday said it agreed to sell its investment-management business to Next Edge Capital for an undisclosed price.

The company said the sale comes as it focuses on its core investment and streamlines its operations.

"This transaction represents a significant strategic step toward cost rationalization, allowing us to more fully concentrate our resources on our core investment strategy. While these funds have played a significant role in Dundee's history, this move ensures we can streamline our operations and optimize our expense structure," chief financial officer Lila Manassa Murphy said in a release.

Dundee's Class A shares closed unchanged at $1.58 on the Toronto Stock Exchange.