Fortress Puts Up $363.4M To Buy Back Nomura's Stake

Law360, New York (February 13, 2014, 2:42 PM EST) -- New York-based investment management firm Fortress Investment Group LLC has bought back from Nomura Holdings Inc. a 12 percent ownership stake in Fortress for $363.4 million, the companies announced Thursday.

Fortress said it has repurchased from Nomura approximately 60.6 million Class A shares at $6 per share. One of Fortress’ principal investors, Japan-based financial services giant Nomura, had acquired an initial 15 percent stake in Fortress for approximately $888 million in December 2006.

The companies said in a joint statement that in conjunction with the buyback,...
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