First Eagle To Acquire NewStar - Quick Facts

(RTTNews) - First Eagle Investment Management and NewStar Financial Inc. (NEWS) announced a definitive agreement for First Eagle to acquire NewStar. NewStar stockholders are expected to receive total consideration estimated at $12.32 to $12.44 per share. The NewStar stockholders will receive $11.44 in upfront cash and one non-transferable contingent value right for each NewStar share held at the closing of the transaction worth up to an estimated additional $0.88-1.00 per share.

First Eagle is an independent, privately-owned investment firm with approximately $116 billion in assets under management, and NewStar manages approximately $7.3 billion of assets across multiple credit funds.

In a related transaction, NewStar has entered into a definitive agreement to sell a portfolio of investment assets, including approximately $2.4 billion of middle-market loans and other credit investments, to a newly formed investment fund sponsored by GSO Capital Partners LP, the global credit investment platform of Blackstone Group L.P.