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What will be B. Riley's market cap ranking among financial services firms by June 30, 2025?
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Market cap data from financial services like Bloomberg or Yahoo Finance
Story
B. Riley Sells Great American Unit to Oaktree for $386M; Shares Surge 26%
Oct 14, 2024, 11:03 AM
B. Riley Financial has agreed to sell its Great American unit to Oaktree Capital for approximately $400 million. The deal, valued at $386 million, includes $203 million in cash and preferred units worth $183 million, also granting B. Riley a minority stake in the new holding company. This transaction is part of B. Riley's strategy to reduce its debt, which currently stands at $1.7 billion. The sale is expected to help the company strengthen its financial position. B. Riley's shares surged 26% following the announcement. Great American was a $35 million EBITDA portion of B. Riley's advisory business, sold at 11x EBITDA. The deal also concludes a previously announced review of strategic alternatives for the Great American unit.
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