Societe Generale to Acquire Most of Jefferies Bache Futures Activities

News provided by
Jefferies Group LLC NYSE JEF
Apr. 10, 2015 13:10
NEW YORK--(Business Wire / Korea Newswire)--Jefferies Group LLC announced today that it has entered into a definitive agreement for Societe Generale S.A. to acquire most of the futures activities of Jefferies’ Bache business. Under the terms of that agreement, a majority of the client activities currently serviced by Bache will be transferred to Societe Generale, which has the diversified platform, solid balance sheet and deep experience that will result in a seamless transition for the business. The transaction, which remains subject to closing conditions in the agreement, is expected to close in the second quarter of 2015. From now through the transaction’s close, Jefferies will exit remaining Bache futures and commodities activities. Jefferies estimates this transaction and winding up the balance of the Bache business will result in one-time costs of about $66 million after-tax, of which $23 million are non-cash and the majority of the balance is compensation, severance and technology-related. Exiting this business is expected to be accretive to Jefferies’ future earnings.

Jefferies, the global investment banking firm focused on serving clients for over 50 years, is a leader in providing insight, expertise and execution to investors, companies and governments. The firm provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income, foreign exchange, futures and commodities, as well as wealth management, in the Americas, Europe and Asia. Jefferies Group LLC is a wholly-owned subsidiary of Leucadia National Corporation (NYSE:LUK), a diversified holding company.

Contact

Jefferies Group LLC
Richard Khaleel
+1 212-284-2556
rkhaleel@jefferies.com

This news is a press release provided by Jefferies Group LLC.

Jefferies Group LLC News Releases
Jefferies to Host Asia Forum September 7-9
The Jefferies Asia Forum - a virtual gathering of global thought leaders, offering attendees original content, comprehensive corporate access and actionable investment insights - will take place on September 7-9, 2022. “The Jefferies Asia Forum is one of the most comprehensive events of...
2022년 9월 1일 16:30
제프리스, 9월 7~9일 제프리스 아시아 포럼 주최
전 세계 사고 리더(thought leader)들이 모여 오리지널 콘텐츠와 포괄적인 기업 정보, 행동으로 옮길 수 있는 투자 통찰력을 제공하는 가상 포럼 ‘제프리스 아시아 포럼(Jefferies Asia Forum)’이 2022년 9월 7일부터 9일까지 열린다. 머레이 윌슨(Murray Wilson) 제프리스 아시아 사장은 “제프리스 아시아 포...
2022년 9월 1일 16:30
More News
Finance Banking & Financial Service Mergers & Acquisitions Overseas
Jefferies Group LLC
Follow
News Releases RSS Feed

국내 최대 배포망으로 보도자료를 배포하세요

지금 시작하기