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BRIEF-Softbank Group to acquire Fortress Investment Group for $3.3 bln
February 15, 2017 / 12:08 AM / 7 months ago

BRIEF-Softbank Group to acquire Fortress Investment Group for $3.3 bln

Feb 14 (Reuters) - Fortress Investment Group Llc :

* Softbank Group to acquire fortress investment group for $3.3 billion

* Fortress Investment Group LLC - each fortress class a shareholder will receive $8.08 per share

* Fortress principals to continue to lead business independently

* Fortress Investment Group LLC says under terms of agreement, softbank can bring in partners for a portion of investment

* Says under terms of agreement, Softbank can bring in partners for a portion of investment

* Fortress Investment Group LLC - fortress plans to maintain its current base dividend of $0.09 per share for Q4 of 2016

* Fortress investment group llc - fortress plans to maintain its current base dividend of $0.09 per share for q4 of 2016

* Fortress Investment Group - Nizar Al-Bassam,Dalinc Ariburnu of F.A.B. Partners, will continue to advise Softbank with respect to Fortress

* Fortress Investment-Fortress principals to vote shares representing aggregate of 34.99pct of Fortress voting shares held by them in favor of deal

* Fortress Investment Group LLC - Pete Briger, Wes Edens and Randy Nardone have agreed to continue to lead Fortress

* Fortress Investment Group LLC - Fortress will operate within Softbank as an independent business headquartered in New York

* Fortress Investment Group - Pete Briger, Wes Edens, Randy Nardone committed to invest 50pct of after-tax proceeds from deal in Fortress-managed funds

* Fortress Investment Group - deal unanimously approved by a special committee of independent directors of co’s board and co’s full board

* Fortress Investment - each Fortress class a shareholder may get up to 2 regular quarterly dividends prior to closing, each not exceeding $0.09/class a share Source text for Eikon: Further company coverage:

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