Jefferies Financial Completes the Merger of Jefferies Group

Jefferies Financial Group Inc. (Jefferies) announced that it has completed the merger of its wholly owned subsidiary, Jefferies Group LLC (Jefferies Group), with and into Jefferies to streamline and simplify its corporate structure.

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This merger will, among other things, eliminate the requirement for two sets of Form 10-Qs, Form 10-Ks, and other duplicative processes, and result in Jefferies assuming all of the assets and liabilities of Jefferies Group.

The announcement came months after Jefferies announced that it expects to spin off to its shareholders its holdings in Vitesse Energy prior to the end of 2022 and streamline and simplify its corporate structure by merging Jefferies Group into Jefferies.

Earlier, Jefferies has published its financial results for the third quarter of the 2022 financial year ended August 31, 2022. During the quarter, the American investment bank and financial services company posted net income of $195 million. For the same quarter last year, it reported a net income of $407 million.