OneMain Holdings (OMF) and Jefferies Financial Group (JEF) announced they have reached a definitive agreement under which OneMain will acquire Foursight Capital from Jefferies for $115M in cash. Founded in 2012, Foursight is an automobile finance company that purchases and services automobile retail installment contracts primarily made to near-prime borrowers across 38 states. Contracts are sourced through an extensive network of dealers. As part of the transaction, OneMain will acquire Foursight’s approximately $900M loan portfolio. Foursight’s approximately 200 employees are expected to join OneMain. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and applicable regulatory approvals.
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