May 1, 2018 / 12:31 AM / 3 months ago

BRIEF-SkyBridge, HNA Capital Announce Termination Of SkyBridge Transaction

April 30 (Reuters) - SKYBRIDGE CAPITAL :

* SKYBRIDGE WILL CONTINUE TO BE LED BY ITS CURRENT SENIOR MANAGEMENT TEAM AND ITS FULL INVESTMENT TEAM WILL REMAIN INTACT

* PARTIES DETERMINED NOT IN THEIR BUSINESS INTERESTS TO PURSUE DEAL AND MUTUALLY AGREED TO ASK CFIUS TO ALLOW WITHDRAWAL OF CFIUS NOTICE

* FOUNDER, ANTHONY SCARAMUCCI, WILL BE RETURNING AS CO-MANAGING PARTNER TO FOCUS ON STRATEGIC PLANNING AND MARKETING EFFORTS FOR FIRM.

* CO AND HNA CAPITAL MUTUALLY AGREED NOT TO PURSUE TRANSACTION CONTEMPLATED UNDER PURCHASE AGREEMENT THEY ENTERED INTO IN JANUARY 2017

* PARTIES WORKED COLLABORATIVELY OVER PAST 15 MONTHS TO SECURE REQUIRED REGULATORY APPROVALS AND SATISFY ALL CLOSING CONDITIONS

* SKYBRIDGE AND HNA CAPITAL TO EXPLORE POTENTIAL MARKETING RELATIONSHIP TO DISTRIBUTE SKYBRIDGE’S OFFERINGS IN CHINA Source text for Eikon:

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