NEW YORK--(BUSINESS WIRE)--
Jefferies Financial Group Inc. (NYSE:JEF), formerly known as Leucadia
National Corporation, today announced that it has closed its previously
announced sale of 48% of National Beef to Marfrig, reducing Jefferies’
ownership in National Beef to 31%. Jefferies received a total of about
$1.1 billion in cash, including sales proceeds and related pre-closing
distributions. The estimated pre-tax gain resulting from this sale,
which will be included in the second quarter results of Jefferies
Financial Group, is about $860-880 million, subject to typical
post-closing adjustments. Jefferies’ CEO, Rich Handler, and President,
Brian Friedman, noted, “The closing of this strategic transaction,
designed to “right-size” Jefferies’ investment in National Beef, is an
important step in Jefferies Financial Group’s transformation to a
diversified financial services company.”
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Jefferies Financial Group Inc.
Laura Ulbrandt, 212-460-1900
Source: Jefferies Financial Group Inc.