Home › Home ›

Bruce Berkowitz Added to Americredit Board

Submitted by Todd Sullivan on Sun, 12/14/2008 - 11:50.
in
Bruce Berkowitz

A major investor has been added to the board of the auto finance company AmeriCredit (NYSE:ACF)

AmeriCredit Corp. said it appointed Bruce Berkowitz to the company's board of directors. Berkowitz is the President of Fairholme Funds, Inc. (NASDAQ:FAIRX), and is also a member of its board of directors. Berkowitz also serves as a director and member of the audit committee of TAL International and White Mountains Insurance Group.

Additionally, in consummation of the transaction announced on November 24, 2008, between AmeriCredit and Fairholme Funds, Inc., AmeriCredit has issued approximately 15.1 million shares of its common stock to Fairholme Funds, Inc., valued at $6.02 per share, in exchange for $108 million of par value of AmeriCredit's 8.50% Senior Notes due 2015.

 

Berkowitz, along with Leucadia (NYSE:LUK) own almost 50% of the company.

 

WallStNation.comThanks for visiting WallStNation.com, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)


Share WallStNation.com Content

Share this article with others, WallStNation.com is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary


Please Review the WallStNation.com Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details