GLG Partners Completes Reverse Acquisition Transaction with
Common Stock of GLG Partners to Transfer to the New York Stock Exchange and Begin Trading Under the Ticker Symbol "GLG"
NEW YORK, Nov. 3 /Xinhua-PRNewswire/ -- GLG Partners, LP ("GLG"), a leading alternative asset manager, announced today that it has completed its reverse acquisition transaction with Freedom Acquisition Holdings, Inc. ("Freedom"), which was previously announced on June 25, 2007. The transaction was approved by the shareholders of Freedom on October 31, 2007. Effective upon the completion of the transaction, Freedom changed its name to GLG Partners, Inc. On November 5, 2007, the common stock, warrants and units of GLG Partners, Inc. will transfer from the American Stock Exchange to the New York Stock Exchange and begin trading under the symbols GLG, GLG WS and GLG.U, respectively.
Commenting on the completion of the transaction, Noam Gottesman, Chairman and Co-CEO of GLG Partners, Inc., said "Completion of this transaction is an important step in building GLG's global business and affords us the opportunity to increase brand awareness and expand in major targeted markets, including the US, Middle East and Asia. Accessing the public markets allows GLG to take full advantage of our highly scalable infrastructure as well as our growth and track record of success to expand our client relationships and distribution capabilities. We now have a publicly traded equity currency on the New York Stock Exchange which we can use to compete for, retain and incentivize the most talented and sought after professionals in our industry."
GLG, the largest independent alternative asset manager in Europe and one of the largest in the world, offers its base of long-standing prestigious clients a diverse range of investment products and account management services. GLG's focus is on preserving client's capital and achieving consistent, superior absolute returns with low volatility and low correlations to both the equity and fixed income markets. Since its inception in 1995, GLG has built on the roots of its founders in the private wealth management industry to develop into one of the world's largest and most recognized alternative investment managers, while maintaining its tradition of client-focused product development and customer service. As of September 30, 2007, GLG managed gross AUM of over $23 billion.
Freedom is a blank check company incorporated in Delaware in 2006 to effect a merger, stock exchange, asset acquisition, reorganization or similar business combination with an operating business or businesses which it believes has significant growth potential. Freedom consummated its initial public offering on December 28, 2006.
This press release contains statements relating to future results that are forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: market conditions for GLG managed investment funds; performance of GLG managed investment funds, the related performance fees and the associated impacts on revenues, net income, cash flows and fund inflows/outflows; the cost of retaining GLG's key investment and other personnel or the loss of such key personnel; risks associated with the expansion of GLG's business in size and geographically; operational risk; litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on GLG's resources; risks related to the use of leverage, the use of derivatives, interest rates and currency fluctuations; costs related to the proposed acquisition, as well as other risks and uncertainties, including those set forth in the definitive proxy statement filed by Freedom with the Securities and Exchange Commission on October 11, 2007. These forward-looking statements are made only as of the date hereof, and GLG undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
上一篇：Top Saudi prosecutor expected in Turkey over writer's de
下一篇：Miyowa's Expertise Helps Accelerate Mass MIM Deployment