March 29, 2017 / 12:49 PM / 4 months ago

BRIEF-Cowen and CEFC China announce strategic partnership

2 Min Read

March 29 (Reuters) - Cowen Group Inc

* Cowen and CEFC China announce strategic partnership

* Cowen Group Inc - CEFC China also agrees to provide $175 million in new debt financing to Cowen

* Cowen Group Inc - CEFC China would acquire 19.9 percent of cowen's outstanding common shares for aggregate purchase price of approximately $100 million

* Says CEFC China enters into agreement to acquire 19.9 percent common equity interest in Cowen for $18.00 per share

* Cowen Group Inc - CEFC China would provide Cowen with debt financing in form of a senior unsecured loan with a six year maturity

* Cowen Group Inc - CEFC China will make equity investment through purchase of newly issued shares of class A common stock

* Cowen Group - proceeds of equity investment to be used to repay Cowen's 8.25 percent senior notes due 2021, fund growth opportunities at Cowen and its units

* Cowen Group - at closing, CEFC China would have right to appoint three directors to Cowen's board, bringing total number of directors to eleven

* Cowen Group Inc - Starr Strategic Partners, Llc served as financial advisor and Willkie Farr & Gallagher Llp served as legal counsel to Cowen Group

* Cowen group - CEFC China would, upon closing of investment, provide cowen with debt financing in form of senior unsecured loan with a six year maturity Source text for Eikon: Further company coverage:

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