Springleaf Completes $4.5B Acquisition

The company acquired OneMain Financial Holdings LLC in fourth quarter 2015.

Springleaf Holdings Inc. in Evansville has completed its previously-announced, $4.5 billion acquisition of Baltimore-based OneMain Financial Holdings LLC. The company will operate under the OneMain brand and be headquartered in Connecticut. Springleaf Chief Executive Officer Jay Levine will lead the combined operation, which plans to keep a significant presence in Evansville.

The company will be called OneMain Holdings Inc. It plans to begin trading on the New York Stock Exchange under the ticker symbol OMF beginning Friday, November 27.

Last week, Springleaf reached a deal with the U.S. Department of Justice and attorneys general from seven states to move forward with the deal. It involves the company selling 127 branches in 11 states to Georgia-based Lendmark Financial Services.

The combined operation expects core net income of between $830 million and $900 million. After the sale to Lendmark Financial, OneMain Holdings will have more than 1,800 branches in 43 states.