Conseco Inc. has signed an agreement to sell most of the assets of Conseco Finance’s Vendor Services unit to Wells Fargo Financial Leasing Inc. for roughly $160 million in cash. Vendor Services is one of Conseco’s non-core assets being sold to fund the retirement of $2 billion in debt.
The deal is expected to close next quarter. Conseco has accumulated total cash proceeds from the sale of non-core assets already completed or agreed to, including Vendor Services, totaling $1.3 billion. The non-core assets remaining to be sold have an estimated value of more than $1 billion.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Some College Finals Delayed After Canvas Online Platform Hacked 
Uber and FedEx Get Green Light for Racketeering Suit Against Lawyers, Doctors 
Worst Start to Wildfire Season Raises Alarm as El Niño Threatens 
High-Powered Dads Are Spending Less Time at Work, More on Childcare 
