DST Systems slashes debt by selling off assets
DST Systems Inc. reaped $485.4 million in pretax cash proceeds from the sale of various investments and real estate in 2012, the company said Thursday.
The sales helped contribute to a nearly 27 percent reduction in outstanding debt, DST (NYSE: DST) reported in a release announcing its financial results for 2012 and the fourth quarter.
... The sales come as DST faces pressure from shareholders to unload noncore assets and refocus the company on data-processing operations ...