Fortress’s Sale of a Significant Position in OneMain Holdings to Investor Group Led by Funds Managed by Affiliates of Apollo and Värde

On January 4, 2018, an investor group led by funds managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) and Värde Partners, Inc. (“Värde”) announced they have entered into a definitive agreement with a company primarily owned by funds managed by an affiliate of Fortress Investment Group LLC (“Fortress”) to acquire all of its remaining equity interest in OneMain Holdings, Inc. (“OneMain”) for $26.00 per share. Upon completion of the transaction, the Apollo and Värde led investor group will own approximately 40.5% of OneMain. Cravath is representing Fortress in connection with the transaction.

The Cravath team includes associates Zachary A. Portnoy and Emily L. Willborn on M&A matters, and partner Christopher K. Fargo and associate Kiran Sheffrin on tax matters. Shawn M. Quinn also worked on M&A matters.