Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 259

Jefferies Agrees to Sell Remaining 31% Interest in National Beef to Marfrig

Posted by fidest press agency su mercoledì, 20 novembre 2019

Jefferies Financial Group Inc. (NYSE:JEF) (“Jefferies”) announced today that it has entered into a definitive agreement to sell its remaining 31% interest in National Beef to Marfrig Global Foods (“Marfrig”). This follows our original sale to Marfrig of a 48% interest in National Beef in June 2018. Under the terms of this agreement, Jefferies will realize a total of $970 million in cash, including $860 million of proceeds from Marfrig and $110 million from final distributions from National Beef. Closing is expected on or about November 30, 2019, subject to limited and customary closing conditions. The transaction will result in a pre-tax gain of approximately $210 million being recognized by Jefferies. Our last published valuation of our remaining interest in National Beef was $903 million as of May 31, 2019. Since that date, we have received $66 million in distributions and now a further $970 million for our remaining interest.Rich Handler, CEO, and Brian Friedman, President, of Jefferies, commented: “We have sold our interest in National Beef at what we consider an attractive price and in furtherance of our stated strategic goals of focusing and investing in Investment Banking, Capital Markets and Asset Management, simplifying our overall company, reducing volatility and lumpiness in our results, and returning excess capital to shareholders.


Inserisci i tuoi dati qui sotto o clicca su un'icona per effettuare l'accesso:

Logo di

Stai commentando usando il tuo account Chiudi sessione /  Modifica )

Google photo

Stai commentando usando il tuo account Google. Chiudi sessione /  Modifica )

Foto Twitter

Stai commentando usando il tuo account Twitter. Chiudi sessione /  Modifica )

Foto di Facebook

Stai commentando usando il tuo account Facebook. Chiudi sessione /  Modifica )

Connessione a %s...

%d blogger hanno fatto clic su Mi Piace per questo: