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Apollo, Varde Buy Fortress's OneMain Stake for $1.4 Billion

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Apollo Global Management LLC and Varde Partners agreed to buy Fortress Investment Group’s stake in consumer lender OneMain Holdings Inc. for $1.4 billion.

The investment firms will pay $26 a share for a 40.5 percent position in OneMain, according to a statement Thursday. The deal is expected to be completed in the second quarter.