Leucadia acquires 2.36 million additional shares of AmeriCredit

By Lisa Kerner

Charlotte, N.C., Aug. 21 - AmeriCredit Corp. investors led by Leucadia National Corp. bought 2,368,200 shares of the company's stock on Aug. 18 through Aug. 20 for a total of approximately $18.25 million.

The average price per share ranged from $7.51 to $7.77, according to a schedule 13D filed with the Securities and Exchange Commission.

Leucadia and its affiliates beneficially own approximately 32.71 million shares, or 28.1%, of the Fort Worth, Texas-based auto finance company.

In March Leucadia announced it had entered into a two-year standstill agreement with AmeriCredit that caps Leucadia's ownership of AmeriCredit at 29.9%.

The agreement also gave Leucadia the right to designate two of the company's nine directors, it was previously reported.

As a result, the board elected Leucadia chairman Ian M. Cumming and Leucadia vice president Justin R. Wheeler to fill the newly created positions.

In addition, the agreement called for Leucadia to vote for the board's director nominees and for AmeriCredit to enter into a registration rights agreement covering all shares of its common stock owned by Leucadia.

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