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Xerox exploring "strategic transaction" for leasing unit

Mar. 18, 2019 7:39 AM ETXerox Holdings Corporation (XRX) StockXRXBy: Brandy Betz, SA News Editor1 Comment
  • Xerox (NYSE:XRX) says it's exploring a possible "strategic transaction" for its customer financing business.
  • Last summer, Reuters reported that XRX was considering selling its leasing unit that lends money to customers wanting to rent printers and office equipment.
  • Update with more information:
  • The financing unit accounts for about $3.4B of XRX's total debt of $5.2B as of the end of last year. The unit brought in about 4% of the overall $7.63B in FY18.
  • The company says its plans to simplify operations will lead to at least $640M in gross savings this year and $1.5B by 2021.

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