Jefferies Financial Group Closes Sale of Its Remaining 31% of National Beef
NEW YORK--(BUSINESS WIRE)--Dec 2, 2019--
Jefferies Financial Group Inc. (NYSE: JEF) today announced that on Friday, November 29, it closed the previously announced sale of its remaining 31% holdings in National Beef to Marfrig and other shareholders. Jefferies received a total of approximately $970 million in cash, including concurrent distributions. The estimated pre-tax gain from this sale is roughly $210 million. Jefferies CEO, Rich Handler, and President, Brian Friedman, noted, “We are pleased to announce the closing of this transaction and our now complete divestiture of National Beef, which substantially furthers our transformation to a diversified financial services company.”
About Jefferies Financial Group Inc.
Jefferies Financial Group Inc. is a diversified financial services company engaged in investment banking and capital markets, asset management and direct investing. Jefferies Group LLC, our largest subsidiary, is the largest independent full-service global investment banking firm headquartered in the U.S.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements about our future and statements that are not historical facts. Forward-looking statements include our expectations relating to the closing of our interests in National Beef and statements of our future performance, plans and objectives. Forward-looking statements also include statements pertaining to our strategies for future development of our businesses and products. Forward-looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain or subject to change. It is possible that the actual results may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. Additional information, including Risk Factors, that could cause actual results to differ, perhaps materially, from those in our forward-looking statements is contained in reports we file with the SEC. You should read and interpret any forward-looking statement together with this disclaimer and the reports we file with the SEC.
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CONTACT: For further information, please contact:Jefferies Financial Group Inc.:
Laura Ulbrandt (212) 460-1977
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Jefferies Financial Group Inc.
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PUB: 12/02/2019 06:55 AM/DISC: 12/02/2019 06:55 AM