On April 7, 2025, Ambac Financial Group, Inc. announced that it has met all necessary pre-closing conditions for the sale of its legacy financial guarantee business. This includes Ambac Assurance Corporation (AAC) and Ambac UK (AUK) to funds managed by Oaktree Capital Management, L.P.
Oaktree is actively pursuing the final outstanding regulatory approval, which is now expected to be received in the second quarter of 2025. Due to this ongoing process, the term of the purchase agreement has been automatically extended from April 4, 2025, to July 3, 2025.
Ambac President and CEO Claude LeBlanc stated that Ambac is prepared to close the sale as soon as possible upon receipt of the final regulatory approval. This transaction is a critical component of Ambac's strategic pivot to a pure-play specialty P&C and insurance distribution platform.
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