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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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July 24, 2014
10:59 EDTNCTMorgan Stanley reports 5.3% passive stake in Newcastle Investment

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