B. Riley Financial Has Agreed To Sell Its Appraisal And Valuations Unit, Great American, To Asset-Management Firm Oaktree Capital In A Deal Valued At About $386M
Portfolio Pulse from Benzinga Newsdesk
B. Riley Financial has agreed to sell its Appraisal and Valuations unit, Great American, to Oaktree Capital for $386 million. The deal involves a new holding company, Great American NewCo, with B. Riley receiving cash and equity, and Oaktree acquiring a majority stake. The transaction is expected to close in Q4 2024.
October 14, 2024 | 12:30 pm
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B. Riley Financial is selling its Appraisal and Valuations unit to Oaktree Capital for $386 million. The transaction involves a new holding company, Great American NewCo, with B. Riley receiving cash and equity. The deal is expected to close in Q4 2024.
The sale of the Appraisal and Valuations unit is a significant strategic move for B. Riley Financial, providing a substantial cash inflow and equity in a new entity. This could positively impact RILY's stock price in the short term as it strengthens its financial position.
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