SoftBank Acquires Fortress Investment Group; It is a Marriage of Independence

Fortress has opened branches in Europe and Asia. It was recently acquired by the Japanese giant SoftBank for a sum of $ 3.3 billion. The deal has been finalized, with SBG owning all of the shares of Fortress. The officials of the two companies confirm the deal indicating that all conditions that were to be fulfilled before the acquisition have been met. Fortress shareholders have approved the transaction too. All the required regulatory approvals have also been received. In the new arrangement, SoftBank allowed Fortress to continue with its operations uninterrupted. The company has its assets in a broad range of investment options that SoftBank thinks is added value in its investment portfolio. It also deals in real estate and credit.

Details of the Acquisition

In the transaction, it was agreed that each Fortress Class A share would be converted to the right to receive $8.08 per share. The proceeds of the merger will be awarded according to the procedures of payment that have been outlined in the Definitive Proxy of June 7th, 2017. Consequently, Fortress common shares will be pulled out from the New York Stock Exchange. The financial results of Fortress will be incorporated with the results of the acquiring company. Fortress will operate under SoftBank independently. It will remain with its headquarters in New York. According to the report of the acquisition, Pete Briger, Wes Edens, and Randy Nardone will continue to head Fortress in their present capacity.

 Value Addition

According to the SBG officials, the technology bank is committed to keeping its position as the leader in its class. It also says it is committed to maintaining the business model, personnel, processes, culture and staff that have made Fortress such a successful asset management and investment entity. SoftBank is a major player in the world of technology. It is focused on technology revolution in business. The Group consists of the SoftBank Corporation and its global list of companies which incorporate internet services, Artificial Intelligence, Smart Robotics, clean energy technologies, telecommunications and other similar areas related to technology.

Fortress Investment Group

Fortress Investment Group is an alternative asset management group that was started way back in 1998 as a private equity firm. It picked up because of its savvy choices in investment until it developed into a world entity. Fortress Investment Group has over $43.6 billion of assets under management. It is trusted by over 1750, both public and private clients. Fortress management reports that it had over 953 employees by the end of December 2017. The report further indicates that there are 216 professional investment experts working in its various outlets across the globe. Fortress Investment Group specializes in asset investment, diverse assets including investing in foreclosure properties and assets being disposed of because institutions have declared them unprofitable. It has excelled in alternative asset investment and risk management to the extent that many companies have come to trust it with their assets. Fortress also offers financial services that include financial consulting and fine-tuning company balance sheets. The company also offers advice on documentation, and how to arrive at favorable pricing.

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