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Tree.Com Inc Completes Sale Of Certain Assets Of Home Loan Center, Inc. To Discover Financial Services' Subsidiary


Thursday, 7 Jun 2012 09:00am EDT 

Tree.Com Inc announced that it has completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial Services. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price. A portion of such amount is being held in escrow pending the discharge of certain contingent liabilities not assumed by Discover related to loans previously sold to secondary market investors. An additional $10 million of purchase price will be due on the first anniversary of the closing. 

Company Quote

48.86
0.67 +1.39%
21 May 2013