RTTNews | Oct 19, 2021 01:21PM EDT

13:20 Tuesday, October 19, 2021 (RTTNews.com) - Bermuda-based finserv company, Athene Holding Ltd. (ATH), is up 8% after Newfi, a tech based lending company for homeowners, announced that it has entered into a definitive agreement to sell majority of its shares to Athene from Warburg Pincus. The transaction is expected to close in the first half of 2022. Founder and CEO Steve Abreu will continue to assume his role in the company after the move. He said, "This move allows Newfi to combine its capital market expertise with Athene's balance sheet and deep knowledge in the mortgage space, accelerating Newfi's presence in single family lending." The shares are trading hands at $82.61, up $5.84 or 7.60% from their previous close at $76.77. The stock opened at 77.69 in the morning. In the 52-week period, the shares have moved between $30.05 and $84.40 per share.

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