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Leucadia National closes sale of National Beef stake

Jefferies Financial Group Inc., formerly known as Leucadia National Corp., closed its sale of 48% of National Beef Packing Co. LLC to Marfrig Global Foods SA.

Jefferies received a total of about $1.1 billion in cash from the sale, including sales proceeds and related pre-closing distributions. The estimated pretax gain resulting from the sale is about $860 million to $880 million.

The deal reduced Jefferies' ownership in National Beef to 31%.