BUZZ-United Community Banks to sell equipment finance business; shares rise

United Community Banks, Inc.

United Community Banks, Inc.

UCB

0.00

** Shares of U.S. regional lender United Community Banks UCB.N rise 3% to $35.30 premarket

** Lender to sell equipment finance business, consisting of Navitas Credit Corp, for $1.9 billion to funds managed by alternative investment firm Wafra

** UCB expects the transaction to result in a one-time pre-tax earnings benefit of $109million

** Deal reflects a 7% premium to the par value of Navitas' loan portfolio, co says

** Co has a market cap of $4.1 bln, as of Thursday's close

** As of last close, UCB stock up 9.8% YTD


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