Brief: Ambac Financial To Sell Legacy Financial Guarantee Business To Funds Managed By Oaktree Capital

Octave Specialty

05/06/2024 13:17

June 5 (Reuters) - Ambac Financial Group Inc  AMBC.N :
    * AMBAC FINANCIAL GROUP, INC. TO SELL LEGACY FINANCIAL
GUARANTEE
BUSINESS TO FUNDS MANAGED BY OAKTREE CAPITAL MANAGEMENT, L.P.
    * AMBAC FINANCIAL GROUP INC: SALE FOR $420 MILLION IN CASH
    * AMBAC FINANCIAL GROUP INC: OAKTREE WILL RECEIVE WARRANTS
TO
ACQUIRE UP TO 9.9% OF AMBAC COMMON STOCK AT A STRIKE PRICE OF
$18.50.

Source text for Eikon:  ID:nBwccJ08Ca 
Further company coverage:  AMBC.N 

 ((Reuters.Briefs@thomsonreuters.com;))