United Community Banks, Inc. Announces Agreement to Sell Equipment Finance Business, Consisting of Navitas Credit Corp. and NLFC Reinsurance Corp., to Funds Managed by Wafra Inc.
United Community Banks, Inc. (NYSE: UCB) (“United”) today announced the execution of a definitive agreement to sell its equipment finance business, consisting of Navitas Credit Corp. and NLFC Reinsurance Corp. (collectively, “Navitas”), to funds managed by Wafra Inc., acting through Navitas TopCo LLC (“Wafra”) for $1.9 billion in cash1 (the “Transaction”).......
