Softbank Group is a financial firm that purchased the prominent Fortress Investment Group for 3.3 billion US Dollars. Softbank and all its subsidiaries closed a deal on full ownership of all remaining Fortress shares. The deal was closed after all conditions of the transaction were fully met inclusive of approval of the transaction by Fortress shareholders on 12th July 2017 as well as acceptance of receipt of all regulatory. After the completion acquisition, every outstanding share of the Fortress Class A was converted to 8.08 USD per share that was to be received in cash. This was also accompanied by the proceeds of the merger after which would then be distributed as per the payment procedures that was set in Definitive Proxy of Fortress dated in 7th June 2017 in conjunction with Merger Agreement. The common stocks of Fortress stopped trading and was to be removed from the New York Stock Exchange.
The Financial result of Fortress Invest Group will then be incorporated and reflected on the consolidated financial statement of SoftBank after the acquisition closing date of 27th Dec 2017. SoftBank Group will then announce on the impact of consolidation as usual. Fortress Investment Group will run in SoftBank independently with its headquarters in the New York. Its major leaders Wes Edens, Randal Nardone, and Peter Briger will still hold the leadership position. To maintain the growth and incredible performance of Fortress, Softbank is set to keep all qualities that led to its success such as brand, leadership, personnel, business model, procedures and culture. Find out more about Fortress Group Investment at patch.com
Softbank Group is an international technology participant that aims at driving the Information Revolution. SoftBank is made up of the holding firm SoftBank Group Corp in conjunction with a global portfolio of firms that incorporates advanced internet services, telecommunication, smart robotics, AI, IoT, as well as clean energy technology providers. The Softbank Vision Fund which globally invests in both business and technology and is set to help the next stage of the Information Revolution made its first ultimate close with more than 93 million US Dollars in committed capital in May 2017.
About Fortress Investment Group
Fortress Investment Group is the best, a highly diversified worldwide investment company managing assets worth $36.1 billion US as of 30th September 2017. It was launched in 1998 and carries out asset management of more than 1750 institutional clients and private investors of real estate, credit, private equity investment strategies, and permanent capital.