March 13, 2019 / 1:58 PM / 3 months ago

Brookfield Asset Management to buy 62 pct of Oaktree Capital for about $4.8 bln

March 13 (Reuters) - Brookfield Asset Management Inc will buy a 62 percent stake in Oaktree Capital Group LLC in a cash-and-stock deal valued at about $4.8 billion, the two asset managers said in a statement on Wednesday.

Oaktree shareholders can choose to get either $49 in cash or 1.0770 Class A shares of Brookfield for each share held, with the total amount to be paid in 50 percent stock and rest in cash.

The cash offer represents an 11.8 percent premium to Oaktree’s Tuesday closing price. (Reporting by Debroop Roy in Bengaluru; Editing by Arun Koyyur)

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