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H&R Block to sell banking unit to BofI Federal Bank
April 10, 2014 / 8:25 PM / 3 years ago

H&R Block to sell banking unit to BofI Federal Bank

April 10 (Reuters) - U.S. tax preparer H&R Block Inc said it would sell some assets and transfer certain liabilities to BofI Federal Bank.

The company expects the net impact of the transaction to be dilutive by about 7-9 cents per share beginning in fiscal 2015, H&R Block said.

The company earlier failed to close the sale of its banking unit to Republic Bancorp Inc in October as it could not get the necessary regulatory approvals. (Reporting by Avik Das in Bangalore; Editing by Simon Jennings)

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