Fortress-owned Springleaf to Buy Citi's OneMain for $4.25B Cash
March 04, 2015
Springleaf (NYSE: LEAF), a personal finance company majority owned by Fortress Investment Group, has reached an agreement to acquire OneMain Financial from Citigroup (NYSE: C) for $4.25 billion in cash; the deal is expected to close in 3Q. The combined consumer finance company will serve approximately 2.5 million customers through some 2,000 branches across 43 U.S. states. Fortress acquired Springleaf in August 2010 and retained a roughly 77% stake following the company's IPO in October 2013.