JPEL Private Equity Limited Fortress Softbank Merger (2206X)
February 17 2017 - 8:40AM
UK Regulatory
TIDMJPEL
RNS Number : 2206X
JPEL Private Equity Limited
17 February 2017
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
Shareholder UPDATE
* * *
Fortress Investment Group LLC, an affiliate of FCF JPEL
Management LLC, has entered into an agreement to be acquired by
SoftBank Group Corp.
* * *
GUERNSEY, 17 FEBRUARY 2017
SoftBank Group Corp. ("SoftBank" or "SBG") and Fortress
Investment Group LLC ("Fortress") announced on 14 February 2017
that they have entered into a definitive merger agreement under
which SoftBank will acquire Fortress for approximately $3.3 billion
in cash.* Fortress is an affiliate of FCF JPEL Management LLC, the
investment manager for JPEL Private Equity Limited ("JPEL" or the
"Company").
There has been no change in JPEL's underlying investment
process, strategy, investment team or investment committee members
as a result of the planned merger. The Company understands that
Fortress will operate within SoftBank as an independent business
headquartered in New York, and SoftBank is committed to maintaining
the leadership, business model, brand, personnel, processes and
culture that have supported Fortress's success to date.
Further information on the transaction can be found at:
https://www.fortress.com/pdfs/PressRelease02-14-2017
* The transaction is subject to approval by Fortress
shareholders, certain regulatory approvals and other customary
closing conditions.
* * *
About JPEL Private Equity Limited
JPEL Private Equity Limited is a Guernsey registered and
incorporated, London Stock Exchange-listed, closed-ended investment
company (LSE: JPEL) designed primarily to invest in the global
private equity market. The investment objective of the Company is
to achieve both short and long-term capital appreciation by
investing in a well-diversified portfolio of private equity fund
interests and by capitalising on the inefficiencies of the
secondary private equity market.
ENQUIRIES:
FCF JPEL Management LLC
JPELClientService@fortress.com
This information is provided by RNS
The company news service from the London Stock Exchange
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