Company cites desire to maximize shareholder value
PHH Corporation’s fleet business continued to rack up “solid results” last year, and the company announced that — despite an uptick in fleet segment sales and profits in 2012 — 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 the separation or sale of the Company’s fleet business, its mortgage business, or both.
PHH’s VP of Corporate Communications, Dico Akseraylian, reassured the company’s customers that “the recent announcement has absolutely no impact on the focus and commitment of our Fleet business. Our customers and their drivers remain our top priority. Our focus is squarely on continuing to deliver leading fleet management solutions for customers that drive their businesses forward, including raising the bar on customer service and developing new tools and technology.”
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