Brief: Rithm Capital Corp To Acquire Sculptor Capital Management

Sculptor Capital Management

24/07/2023 11:58

July 24 (Reuters) - Rithm Capital Corp  RITM.N :
    * RITHM CAPITAL CORP. TO ACQUIRE SCULPTOR CAPITAL MANAGEMENT
    * RITHM CAPITAL CORP- TRANSACTION VALUED AT APPROXIMATELY
$639
MILLION((2)), WHICH INCLUDES $11.15 PER CLASS A SHARE OF
SCULPTOR
    * RITHM CAPITAL CORP - DEAL EXPECTED TO BE NEUTRAL TO
RITHM'S 2024
EARNINGS AND ACCRETIVE IN 2025
    * RITHM CAPITAL CORP - TRANSACTION IS EXPECTED TO BE FUNDED
FROM
RITHM'S CASH ON HAND AND AVAILABLE LIQUIDITY
    * RITHM CAPITAL CORP -  TRANSACTION EXPECTED TO BE ACCRETIVE
TO
RITHM SHAREHOLDERS IN 2025
    * RITHM CAPITAL: UPON COMPLETION OF TRANSACTION, SCULPTOR
WILL
OPERATE AS A SUBSIDIARY OF RITHM AND WILL CONTINUE TO BE LED BY
JIMMY LEVIN AS CIO

Source text for Eikon:  ID:nBw52dxrPa 
Further company coverage:  RITM.N 

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