DigitalBridge Acquires Wafra's 31.5% Stake in DigitalBridge IM
April 18, 2022
DigitalBridge Group, Inc. agreed to acquire Wafra Inc.'s 31.5% ownership stake in DigitalBridge's investment management subsidiary (DigitalBridge IM) for $410 million of newly issued DigitalBridge Class A common stock and $390 million in cash, with an earnout of up to $125 million. The transaction will make DigitalBridge the 100% owner of DigitalBridge IM, is expected to be immediately accretive to earnings by increasing fee-related earnings and performance fee entitlement, and furthers corporate simplification and alignment between shareholders and the investment-management platform.
- Buyers
- DigitalBridge Group, Inc.
- Targets
- DigitalBridge IM (DigitalBridge's investment management subsidiary)
- Sellers
- Wafra Inc.
- Industry
- Financial Services
- Location
- Florida, United States
- Transaction Type
- Divestiture
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