The College scholar Mortgage Business (STU), a subsidiary of Citibank (C) said that The College scholar Mortgage Business and Discover Financial Services (DFS) have entered into a definitive agreement for Discover to attain SLC, and thereby become the owner of its personal scholar loan business as well as $4 billon of its personal scholar education financial lending products.
Separately and immediately prior to the transaction, SLM Business (SLM) will attain from SLC $28 billion of securitized federal scholar education financial lending products and related resources and Citi will attain from SLC certain federal and personal scholar education financial lending products and other resources totaling $8.
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The College scholar Mortgage Business , a subsidiary of Citibank said that The College scholar Mortgage Business and Find out Financial Services have entered into a definitive agreement for Find out to attain SLC, and thereby become the owner of its personal scholar loan business as well as $4 billon of its personal scholar education financial lending products. |
Separately and immediately prior to the transaction, SLM Business will attain from SLC $28 million of securitized government scholar education financial lending products and related resources and Citi will attain from SLC certain government and personal scholar education financial lending products and other resources totaling $8.7 million. Upon the closing of the transactions described above, shareholders of SLC will receive $30 per share. |
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