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Jefferies Completes Sale of OpNet Operations to Wind Tre

NEW YORK, August 01, 2024--(BUSINESS WIRE)--Jefferies Financial Group Inc. (NYSE: JEF) announced today the completion of the sale by OpNet S.p.A (the Italian wireless broadband provider formerly known as Linkem) of substantially all of OpNet’s operations to Wind Tre S.p.A. (Wind Tre), a subsidiary of CK Hutchison Group Telecom Holdings Ltd. Under the terms of the sale, which was disclosed in February 2024, Jefferies will receive net cash proceeds of approximately $317 million between the August 1, 2024 closing date and the first half of 2025. The closing of the sale will not have a meaningful net impact on our operating profit.

Rich Handler, CEO of Jefferies, and Brian Friedman, President of Jefferies, commented: "We are pleased to complete the sale of OpNet’s operation to Wind Tre, the last in a series of transactions that monetized a substantial portion of our legacy merchant-banking assets. Achieving that goal further accelerates our efforts to build the very best ‘pure play’ global Investment Banking and Capital Markets firm."

About Jefferies Financial Group Inc.

Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research and wealth and asset management services. With more than 47 offices in 21 countries around the world, we offer insights and expertise to investors, companies and governments.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about our future and statements that are not historical facts. These forward-looking statements are typically identified by such words as "believe," "expect," "anticipate," "may," "intend," "outlook," "will," "estimate," "forecast," "project," "should," and other similar words and expressions, and are subject to numerous assumptions, risks and uncertainties, which will change over time. Forward-looking statements may contain beliefs, goals, intentions and expectations regarding revenues, earnings, operations, arrangements and other results, and may include statements of future performance, plans, and objectives. Forward-looking statements also include statements pertaining to our strategies for future development of our businesses and products. Forward-looking statements speak only as of the date they are made; we do not assume any duty, and do not undertake, to update any forward-looking statements. Furthermore, because forward-looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain, the actual results or outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Information regarding important factors, including Risk Factors that could cause actual results or outcomes to differ, perhaps materially, from those in our forward-looking statements is contained in reports we file with the SEC. You should read and interpret any forward-looking statement together with reports we file with the SEC. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240731849225/en/

Contacts

Media Inquiries
Jonathan Freedman (212) 284-2300
MediaContact@Jefferies.com