| 2016-10-17 09:10:59|
NSAM, CLNY… 09:10 10/17 10/17/16
NorthStar Asset Management provides update on merger agreement
The management of NorthStar Asset Management (NSAM), Colony Capital (CLNY) and Northstar Realty Finance (NRF) plan to hold their respective shareholder meetings prior to the end of the year and close the merger in January 2017. Colony NorthStar's lending banks have reaffirmed their financing commitment for the transaction, and the company has made substantial progress on the merger integration planning and reiterates its strong capital position. At the close of the merger, the Company intends to commence payment of an annualized dividend of $1.08 per share, payable quarterly.