Edition:
United Kingdom

Softbank Group to acquire Fortress Investment Group for $3.3 bln


Wednesday, 15 Feb 2017 

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.