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Stock Market & Financial Investment News

News Breaks
January 7, 2013
07:53 EDTNCT, FIGNewcastle Investment announces plan to spin-off of residential assets
Newcastle (NCT) announced that its Board of Directors has unanimously approved a plan to spin off all of its Excess MSRs and certain other residential assets. Newcastle intends to effect the spin-off in the first quarter of 2013 by distributing shares of its subsidiary, New Residential Investment Corp. New Residential will be a publicly traded real estate investment trust, or REIT, that primarily targets opportunistic investments in Excess MSRs, RMBS, servicing advances, non-performing loans and other real estate related investments. New Residential will be externally managed by an affiliate of Fortress Investment Group (FIG) pursuant to a new management agreement with terms that are substantially similar to the terms of Newcastle’s management agreement. New Residential has filed a registration statement with the U.S. Securities and Exchange Commission with respect to the planned spin-off. The spin-off is subject to certain conditions, such as the SEC declaring effective New Residential’s registration statement, the filing and approval of an application to list New Residential’s common stock on the NYSE and the formal declaration of the distribution by the Board of Directors.
News For NCT;FIG From The Last 14 Days
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October 24, 2014
06:44 EDTFIGUniCredit CEO likely to select Prelios, Fortress for UCCMB bid, Reuters says
Unicredit (UNCFF) CEO Frederico Ghizzoni said that the company is negotiating with a group comprising of Fortress (FIG) and Prelios on the divestiture of its division Unicredit Credit Management Bank and could potentially enter exclusive discussions soon, according to Reuters, citing comments from Ghizzoni. Reference Link
October 21, 2014
12:55 EDTFIGNathaniel August discusses long position in Fortress
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09:01 EDTFIGOmnisure announces sale to Fortress, affiliates
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October 17, 2014
07:19 EDTNCTNewcastle Investment to host business news update conference call
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October 16, 2014
17:20 EDTNCTNewcastle Investment announces details of New Senior spin-off
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October 10, 2014
18:46 EDTFIGFortress looking for $4B to acquire distressed debt, Bloomberg reports
Fortress Investment is seeking approximately $4.3B to buy distressed debt from around the world, Bloomberg reports, citing people familiar with the matter. The firm is looking for a $2B private-equity structured credit fund with the rest of the balance coming from managed accounts that will invest alongside the deals, two people familiar with the plans added. Reference Link

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