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Truist Financial (TFC) has issued an update.
Truist Financial Corporation has finalized a major transaction, selling its remaining equity interests in Truist Insurance to an investor consortium for an enterprise value of $15.5 billion, resulting in after-tax proceeds of around $10.1 billion. This deal involved intricate amendments and recapitalization, reflecting changes based on business lines. This strategic move, completed on May 6, 2024, also saw John M. Howard leave Truist to continue as CEO of the newly independent Truist Insurance.
For an in-depth examination of TFC stock, go to TipRanks’ Stock Analysis page.