Rithm Capital Corp said on Friday that it had finalized its previously announced acquisition of Sculptor Capital Management Inc for $12.70 per Class A share in a deal estimated at approximately $719.8 million.
Sculptor’s common stock will now discontinue trading on the New York Stock Exchange and will be delisted.
Citi acted as the sole financial advisor to Rithm, while Skadden, Arps, Slate, Meagher & Flom LLP and Debevoise & Plimpton LLP acted as its legal counsel.
“The completion of this transaction is a significant milestone for our team and an important next step in the growth and evolution of Rithm,” Michael Nierenberg, Chairman, Chief Executive Officer and President of Rithm Capital, said in a press release.
“We are excited to bring together our talented teams and create a superior global asset management business focused on delivering significant, long-term value for our shareholders and fund investors,” Nierenberg added.
“We are extremely happy to combine forces with Rithm. This transaction positions us for long-term success and our team is invigorated to continue our mission of providing attractive returns to our fund investors,” Jimmy Levin, Chief Investment Officer and Executive Managing Partner of Sculptor Capital Management, commented.