Fortress Investment Group acquired by SoftBank Group

Fortress Investment Group LLC is now part of over the SoftBank Group Corp. This deal was completed after SoftBank paid $3.3 billion in cash. After the completion of this deal, after Softbank now owns all the outstanding Fortress shares. The completion of this deal culminated after the shareholders approved the transaction after following all the regulatory approvals. The committee on foreign investment in the United States was also involved before the deal could be sealed.

Even after this acquisition, Fortress Investment Group will remain an independent business with its offices in New York. The leadership of the company will stay intact as principals with Wes Edens, Randy Nardone and Peter Briger continue to steer its management. Before the deal could be completed, SoftBank Group had to agree that it would not interfere with the previous management of the Fortress group. As an independent entity, a Fortress group has been one of the most successful alternative investment firms in the United States, and there was no need to interfere with the previous management.

SoftBank Group is known as an investor in technology. In his previous investments, this firm has invested in tech startups that have revolutionary ideas. The acquisition of Fortress Investment Group was a departure from the norm, and it seems they want to diversify and become the largest investment firm in the world.

Fortress Investment Group LLC is considered a leading global investment firm which is currently managing assets worth over 40 billion on behalf of over 1750 individual and corporate investors. Since its formation in 1998, the Fortress Investment Group has become one of the most established investment firms in the world. It is this success that is likely to have attracted the attention of SoftBank Group.

SoftBank Group was started in the 1980s by Masayoshi Son as a computer accessories company. Over time, it has grown into a significant business especially after acquiring a majority shareholding in Yahoo in 1996.

With the completion of this deal, both organizations are expected to reap huge benefits as they make efforts have to become the biggest companies in respective fields. The management of Fortress Group is optimistic that this deal will favor the long-term plan on the achievement of their goals.

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