Navient sells Government Services business to Gallant Capital; expects $25-35M loss in Q4

NAVIENT CORP

Approximately 1,200 employees included; transaction expected to close Q1 2025.
Navient expects $25-35 million loss on sale in Q4 2024 results.
Gov't services book value ~$50M as of Sep 30; deal structure change adds ~$20M deferred tax assets to buyer, boosting net cash.
Follows prior sale of healthcare services for $369M ($219M gain); together exit the entire Business Processing segment.

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