First Acceptance in the sale of its retail sales agency operations to Alliant

First Acceptance Corporation (FAC) announced that, on December 1, 2023, it sold its retail sales agency operations subsidiary to Alliant Insurance Services, Inc. for cash consideration of up to $120 million, including up to $45 million in deferred payments based on achievement of certain annual production targets.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to FAC.