Ambac Financial Group, Inc. Provides Update on the Sale of Its Legacy Financial Guarantee Business
Ambac Financial Group (NYSE: AMBC) has announced an update regarding the sale of its legacy financial guarantee business, including Ambac Assurance (AAC) and Ambac UK (AUK), to Oaktree Capital Management-managed funds. The company has fulfilled all its pre-closing requirements under the purchase agreement.
While Oaktree is still pursuing the final regulatory approval, which is expected in the second quarter, the purchase agreement's term has been automatically extended from April 4, 2025, to July 3, 2025. CEO Claude LeBlanc confirmed that Ambac stands ready to complete the transaction once the final regulatory approval is secured.
Ambac Financial Group (NYSE: AMBC) ha annunciato un aggiornamento riguardo alla vendita della sua attività di garanzia finanziaria legacy, inclusi Ambac Assurance (AAC) e Ambac UK (AUK), a fondi gestiti da Oaktree Capital Management. L'azienda ha soddisfatto tutti i requisiti pre-chiusura previsti dall'accordo di acquisto.
Sebbene Oaktree stia ancora perseguendo l'approvazione normativa finale, che è attesa nel secondo trimestre, il termine dell'accordo di acquisto è stato automaticamente esteso dal 4 aprile 2025 al 3 luglio 2025. Il CEO Claude LeBlanc ha confermato che Ambac è pronta a completare la transazione non appena l'approvazione normativa finale sarà ottenuta.
Ambac Financial Group (NYSE: AMBC) ha anunciado una actualización sobre la venta de su negocio de garantía financiera legado, que incluye Ambac Assurance (AAC) y Ambac UK (AUK), a fondos gestionados por Oaktree Capital Management. La empresa ha cumplido con todos los requisitos previos al cierre según el acuerdo de compra.
Aunque Oaktree aún está buscando la aprobación regulatoria final, que se espera en el segundo trimestre, el plazo del acuerdo de compra se ha extendido automáticamente del 4 de abril de 2025 al 3 de julio de 2025. El CEO Claude LeBlanc confirmó que Ambac está lista para completar la transacción una vez que se obtenga la aprobación regulatoria final.
앰백 파이낸셜 그룹 (NYSE: AMBC)은 앰백 보증 (AAC) 및 앰백 UK (AUK)를 포함한 레거시 금융 보증 사업의 오크트리 캐피탈 매니지먼트가 관리하는 펀드에 대한 판매 업데이트를 발표했습니다. 회사는 구매 계약에 따른 모든 사전 종료 요구 사항을 충족했습니다.
오크트리가 여전히 최종 규제 승인을 추구하고 있는 가운데, 구매 계약의 기한은 2025년 4월 4일에서 2025년 7월 3일로 자동 연장되었습니다. CEO 클로드 르블랑은 앰백이 최종 규제 승인이 확보되는 대로 거래를 완료할 준비가 되어 있다고 확인했습니다.
Ambac Financial Group (NYSE: AMBC) a annoncé une mise à jour concernant la vente de son activité de garantie financière héritée, y compris Ambac Assurance (AAC) et Ambac UK (AUK), à des fonds gérés par Oaktree Capital Management. L'entreprise a satisfait à toutes ses conditions préalables à la clôture dans le cadre de l'accord d'achat.
Bien qu'Oaktree soit toujours en train de poursuivre l'approbation réglementaire finale, qui est attendue au deuxième trimestre, le terme de l'accord d'achat a été automatiquement prolongé du 4 avril 2025 au 3 juillet 2025. Le PDG Claude LeBlanc a confirmé qu'Ambac est prête à finaliser la transaction dès que l'approbation réglementaire finale sera obtenue.
Ambac Financial Group (NYSE: AMBC) hat ein Update zum Verkauf ihres Legacy-Finanzgarantiegeschäfts, einschließlich Ambac Assurance (AAC) und Ambac UK (AUK), an von Oaktree Capital Management verwaltete Fonds bekannt gegeben. Das Unternehmen hat alle seine Anforderungen vor dem Abschluss gemäß dem Kaufvertrag erfüllt.
Während Oaktree weiterhin auf die endgültige regulatorische Genehmigung wartet, die im zweiten Quartal erwartet wird, wurde die Frist des Kaufvertrags automatisch vom 4. April 2025 auf den 3. Juli 2025 verlängert. CEO Claude LeBlanc bestätigte, dass Ambac bereit ist, die Transaktion abzuschließen, sobald die endgültige regulatorische Genehmigung gesichert ist.
- All pre-closing conditions met by Ambac
- Transaction remains on track with regulatory process progressing
- Final regulatory approval still pending
- Extended closing timeline to July 2025
“The regulatory review process between Oaktree and the regulator continues to progress,” Ambac President and Chief Executive Officer Claude LeBlanc said. “Ambac is prepared to close the sale as soon as possible upon receipt of the final outstanding regulatory approval.”
About Ambac
Ambac Financial Group, Inc. (“Ambac”) is an insurance holding company headquartered in
The Amended and Restated Certificate of Incorporation of Ambac contains substantial restrictions on the ability to transfer Ambac’s common stock. Subject to limited exceptions, any attempted transfer of common stock shall be prohibited and void to the extent that, as a result of such transfer (or any series of transfers of which such transfer is a part), any person or group of persons shall become a holder of
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Investors:
Charles J. Sebaski
Managing Director, Investor Relations
(212) 208-3177
csebaski@ambac.com
Media:
Ambac
Kate Smith
Director, Corporate Communications
(212) 208-3452
ksmith@ambac.com
Source: Ambac Financial Group, Inc.