United Community Banks completes $2B Navitas sale to Wafra
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United Community Banks, Inc. Announces Completion of Sale of Navitas Equipment Finance Business to Funds Managed by Wafra Inc.
September 1, 2026 4:30 PM EDTGREENVILLE, S.C., Sept. 01, 2026 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced the completion of the previously announced sale of its equipment finance business, consisting of Navitas Credit Corp. and NLFC Reinsurance Corp. (collectively, Navitas), to funds managed by Wafra Inc., acting through Navitas TopCo LLC (Wafra) for approximately $2.0 billion in cash1 (the Transaction).
The Transaction represents an attractive monetization of the equipment finance business, reflecting a 7% premium to the par value of Navitas loan portfolio. The sale of Navitas reinforces Uniteds focus on its core Southeastern relationship... More
