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Stock Market & Financial Investment News

News Breaks
March 5, 2013
08:56 EDTHBC, NCT, FIGHSBC to sell loan portfolios to Springleaf, Newcastle for $3.2B
HSBC Finance Corporation, an indirect wholly-owned subsidiary of HSBC Holdings (HBC), has entered into an agreement to sell its Personal Unsecured Loan and Personal Homeowner Loan portfolios to SpringCastle Acquisition LLC, a Delaware-based company owned by Springleaf Finance and Newcastle Investment Corp. (NCT). The portfolios sale transaction is scheduled for completion in the second quarter of 2013 and is subject to customary closing conditions. HFC has also entered into an agreement to sell its loan servicing facility and related assets in London, Kentucky to Springleaf. Completion of the sale of the building and assets, which is subject to customary closing conditions, is expected in the fourth quarter of 2013, following a transitional period to allow for the conversion of loans being sold to SpringCastle. Upon completion of the sale of the Facility, the majority of employees located in the Facility will transfer to become employees of Springleaf. At December 31, 2012, the carrying value of the gross assets being sold was approximately $4.3B. The total consideration to be paid by SpringCastle and Springleaf is $3.2B.
News For HBC;NCT;FIG From The Last 14 Days
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October 24, 2014
06:44 EDTFIGUniCredit CEO likely to select Prelios, Fortress for UCCMB bid, Reuters says
Unicredit (UNCFF) CEO Frederico Ghizzoni said that the company is negotiating with a group comprising of Fortress (FIG) and Prelios on the divestiture of its division Unicredit Credit Management Bank and could potentially enter exclusive discussions soon, according to Reuters, citing comments from Ghizzoni. Reference Link
October 22, 2014
09:50 EDTHBCCredit Suisse to hold a field trip
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October 21, 2014
12:55 EDTFIGNathaniel August discusses long position in Fortress
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09:01 EDTFIGOmnisure announces sale to Fortress, affiliates
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October 17, 2014
07:19 EDTNCTNewcastle Investment to host business news update conference call
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October 16, 2014
17:20 EDTNCTNewcastle Investment announces details of New Senior spin-off
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