Ambac Financial Group Signed A Definitive Agreement To Sell Its Legacy Financial Guarantee Businesses, Ambac Assurance Corporation And Ambac UK, To Funds Managed By Oaktree Capital Management For $420M In Cash
Portfolio Pulse from Benzinga Newsdesk
Ambac Financial Group has signed a definitive agreement to sell its legacy financial guarantee businesses, Ambac Assurance Corporation and Ambac UK, to funds managed by Oaktree Capital Management for $420 million in cash.
June 05, 2024 | 10:36 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Ambac Financial Group is selling its legacy financial guarantee businesses to Oaktree Capital Management for $420 million in cash. This move is likely to streamline Ambac's operations and improve its financial position.
The sale of legacy financial guarantee businesses will provide Ambac with a significant cash infusion, likely improving its financial stability and allowing it to focus on core operations. This is a positive development for the company's stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100