Jefferies Financial Group (JEF) to Spin-Off Vitesse Energy
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Jefferies Announces Strategic Transactions to Simplify Operations to Continue Focus on Building the Leading Independent, Full-Service Global Investment Banking Firm
July 19, 2022 6:45 AM EDTProposed Tax-Free Spin off to Shareholders of Vitesse Energy as a New Separate Public Company $239 Million Agreed Sale of Idaho Timber Resulting in Estimated Pre-Tax Gain of $140 Million Jefferies Will Merge Its Two SEC Reporting Companies to Achieve Simplicity and Cost Savings Net Book Value of Legacy Merchant Banking Portfolio Was $1.6 Billion as of May 31, 2022; Pro Forma for These Transactions, Net Tangible Book Value of Legacy Merchant Banking Portfolio Would Be Under $1 Billion1
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