(Bloomberg) -- Jefferies Financial Group Inc. may not seem the obvious choice to handle what is poised to be the biggest municipal-bond deal ever in Texas. Most Read from BloombergStriking Drop in Stress Hormone Predicts Long Covid in StudyDozens in China Infected With New ‘Langya’ Virus Carried by ShrewsChina Has Painted Itself Into a Semiconductor CornerMedia Tallies Show Extremely Tight Presidency Race: Kenya UpdateTech Takes Wind Out of Stocks as Bond Yields Climb: Markets WrapIt’s not one o
(Bloomberg) -- Jefferies Financial Group Inc. plans to shed two of the remaining pieces of Leucadia National Corp.’s merchant-banking operation to focus on investment banking and simplify its corporate structure.Most Read from BloombergThis Could Be the Start of a Dollar ‘Doom Loop’ Like No OtherS&P 500 Struts Stuff With Best Day in Three Weeks: Markets WrapChina Disputes Report Xi Invited Europe Heads to Beijing MeetingGhana Declares First Marburg Virus Disease OutbreakThe firm will spin off Vi
NEW YORK, July 19, 2022--Jefferies Financial Group Inc. (NYSE: JEF) announced today that, adhering to its long-standing fundamental strategy of focusing on building its investment banking and capital markets businesses and reducing the size of its Merchant Banking portfolio, Jefferies expects to spin off to its shareholders its holdings in Vitesse Energy prior to the end of 2022. That spin-off will involve the formation of a new standalone entity, Vitesse Energy, Inc., that will ultimately be a