HC2 eyes Continental Insurance sale, explores options for DBM Global

HC2 (NYSE:HCHC) +1.1% pre-market after saying it is in advanced talks for a potential sale of its 100%-owned indirect subsidiaries, Continental Insurance Group and Continental General Insurance Co.

The company also says it has retained Jefferies to explore strategic options including a potential sale for DBM Global, its 92%-owned construction unit.

Net proceeds from any divestitures will be used to reduce debt at the holding company level.

HC2 announced a $250M sale of its Global Marine-related assets less than two weeks ago.

Powered by WPeMatico