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PHH May Jettison Fleet Business, Mortgage Business, or Both
2014-02-17 02:55:08| AutomotiveDigest.com - Automotive Industry News
Company cites desire to maximize shareholder value PHHs Corp.s fleet business continued to rack up solid results last year. At the same time, the company announced it has retained J.P. Morgan Securities LLC, Centerview Partners LLC, and Kirkland & Ellis LLP to assist in exploring ways to maximize shareholder value through separation or sale of the Companys fleet business, its mortgage business, or both. In fourth quarter 2013, PHH Arvals Fleet Management Services segment profit was $22 million, up $2 million from fourth quarter 2012. For all of 2013, Fleet Management Services segment profit was $88 million, up from $87 million in 2012. Fleet Management Services includes fleet leasing and fleet management. READ MORE The Article PHH May Jettison Fleet Business, Mortgage Business, or Both appeared first on Automotive Digest.
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