NEW YORK–(BUSINESS WIRE)–Ambac Financial Group, Inc. (NYSE: AMBC) reports that it has met all of its necessary pre-closing conditions under the purchase agreement for the sale of Ambac Assurance Corporation and Ambac UK to funds managed by Oaktree Capital Management, L.P. Oaktree continues to pursue the final outstanding regulatory approval, which is expected to be received in the second quarter. As a result, consistent with the terms of the purchase agreement, the term of the purchase agreement has been automatically extended from April 4, 2025, to July 3, 2025.
“The regulatory review process between Oaktree and the regulator continues to progress,” Ambac President and Chief Executive Officer Claude LeBlanc said. “Ambac is prepared to close the sale as soon as possible upon receipt of the final outstanding regulatory approval.”
About Ambac
Ambac Financial Group, Inc. (“Ambac”) is an insurance holding company headquartered in New York City. Ambac’s core business is a growing specialty P&C distribution and underwriting platform. Ambac’s common stock trades on the New York Stock Exchange under the symbol “AMBC”. Ambac is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, we use our website to convey information about our businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical, and business-related information. For more information, please go to www.ambac.com.
