United Community Banks, Inc. Announces Completion of Sale of Navitas Equipment Finance Business to Funds Managed by Wafra Inc.
United Community Banks completed the sale of its Navitas equipment finance business to funds managed by Wafra Inc. for approximately $2.0 billion in cash. The transaction, which included Navitas Credit Corp. and NLFC Reinsurance Corp., was completed at a 7% premium to the par value of the loan portfolio.
Key figures
- Deal Value Usd
- 2000000000
- Sale premium
- 7%
- Total assets
- 29100000000
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