09:26 AM EST, 12/23/2024 (MT Newswires) -- Navient ( NAVI ) said Monday it agreed to sell its government services unit to investment firm Gallant Capital Partners for an undisclosed sum.

The company expects to recognize a loss of between $25 and $35 million in its Q4 results, according to a regulatory filing with the US Securities and Exchange Commission.

The deal, expected to close in Q1 2025, includes Navient Business Processing Group, Duncan Solutions, Gila, Pioneer Credit Recovery, and Navient BPO, the company added.

Navient ( NAVI ) shares were down 1.6% in recent premarket trading.