Jefferies Completes Sale of OpNet Operations to Wind Tre

By: Jefferies Financial Group Inc. via Business Wire

August 01, 2024 at 06:52 AM EDT

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.

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