On Nov 23, Synchrony Financial Entered Agreement For Sale Of Unit Pets Best Insurance Services, LLC To Poodle Holdings; Proposed Deal For Consideration Comprising A Combination Of Cash And An Equity Interest In Co; Gain On Sale, Net Of Tax, Of ~$750M
Portfolio Pulse from Benzinga Newsdesk
Synchrony Financial has entered into an agreement to sell its unit Pets Best Insurance Services, LLC to Poodle Holdings. The deal includes a combination of cash and equity interest in the company. Synchrony Financial is expected to gain approximately $750 million net of tax from the sale, according to an SEC filing.
November 27, 2023 | 9:05 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Synchrony Financial is selling Pets Best Insurance to Poodle Holdings, with a deal that includes cash and equity interest. The transaction is expected to result in a net gain of approximately $750 million for Synchrony Financial.
The sale of Pets Best Insurance is likely to have a positive impact on Synchrony Financial's short-term financials due to the significant expected net gain of approximately $750 million. This could be perceived positively by investors, potentially leading to an increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100