Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Fortress Investment Group LLC    FIG

FORTRESS INVESTMENT GROUP LLC (FIG)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesNewsCompany 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Fortress Investment LLC : SoftBank Group Completes Acquisition of Fortress Investment Group Acquisition brings additional investment expertise to SoftBank Fortress will continue to operate independently

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/28/2017 | 10:48am CEST

SoftBank Group Corp.

TOKYO, Japan - SoftBank Group Corp. ("SoftBank" or "SBG") today announced that it has completed the previously announced acquisition of Fortress Investment Group LLC (NYSE: FIG) ("Fortress") for $3.3 billion in cash. Following the close of the transaction, SBG and its wholly-owned subsidiaries own all outstanding Fortress shares. The completion follows the satisfaction of all conditions to the closing of the transaction, including approval of the transaction by Fortress shareholders on July 12, 2017 and receipt of all necessary regulatory approvals.

As a result of the acquisition, each outstanding Fortress Class A share was converted into the right to receive $8.08 per share in cash, with merger proceeds to be distributed in accordance with payment procedures outlined in Fortress's Definitive Proxy dated June 7, 2017 and the Merger Agreement incorporated therein. Fortress's common stock has ceased trading and was delisted from the New York Stock Exchange. Fortress's financial results will be consolidated and reflected on SBG's consolidated financial statements following the acquisition closing date of December 27 (EST), 2017. SBG will announce the impact of the consolidation as necessary.

Fortress will operate within SoftBank as an independent business headquartered in New York. Fortress Principals Pete Briger, Wes Edens and Randy Nardone will continue to lead Fortress. SoftBank is committed to maintaining the leadership, business model, brand, personnel, processes and culture that have supported Fortress's success to date.About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment firm with $36.1 billion in assets under management as of September 30, 2017. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit, real estate, permanent capital and private equity investment strategies. For more information regarding Fortress Investment Group LLC please visit www.fortress.com.

- Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.

.

(C) 2017 M2 COMMUNICATIONS, source M2 PressWIRE

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FORTRESS INVESTMENT GROUP
2017FORTRESS INVESTMENT LLC : Japans SoftBank completes $3.3 billion acquisition of ..
AQ
2017DRIVE SHACK INC : . Announces Agreement to Internalize Management
AQ
2017FORTRESS INVESTMENT GROUP LLC (NYSE : FIG) Files An 8-K Termination of a Materia..
AQ
2017FORTRESS INVESTMENT GROUP LLC : Termination of a Material Definitive Agreement, ..
AQ
2017FORTRESS INVESTMENT LLC : SoftBank Group Completes Acquisition of Fortress Inves..
AQ
2017FORTRESS INVESTMENT LLC : SoftBank Group Completes Acquisition of Fortress Inves..
BU
2017ONEMAIN : Announces Secondary Offering of Common Stock by an Affiliate of Fortre..
AQ
2017FORTRESS INVESTMENT GROUP LLC (NYSE : FIG) Files An 8-K Regulation FD Disclosure
AQ
2017FORTRESS INVESTMENT GROUP LLC : Regulation FD Disclosure (form 8-K)
AQ
2017FORTRESS INVESTMENT LLC : Fintech MoneyMe secures $120 million capital facility ..
AQ
More news
News from SeekingAlpha
01/04OneMain Financial soars 25% after Apollo buys in 
01/03REUTERS : Apollo nears deal for Fortress' stake in OneMain 
01/02DRIVE SHACK : A Whiff For Investors? 
2017SoftBank completes Fortress Investment Group acquisition, FIG ceases trading 
2017Fortress cashing out of more of OneMain Financial 
Managers
NameTitle
Randal Alan Nardone Chief Executive Officer & Non-Independent Director
Wesley Robert Edens Co-Chairman
Pete L. Briger Co-Chairman
Daniel Neal Bass Chief Financial Officer
George W. Wellde Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FORTRESS INVESTMENT GROUP LLC61.52%0
BLACKROCK-2.13%80 868
BANK OF NEW YORK MELLON (THE)-2.60%53 293
STATE STREET CORPORATION-12.03%33 888
NORTHERN TRUST CORPORATION7.85%24 398
AMERIPRISE FINANCIAL-17.67%20 429