Colony NorthStar, Inc. Announces Additional $300 Million Stock Repurchase Program
May 23 2018 - 9:00AM
Business Wire
Colony NorthStar, Inc. (“Colony NorthStar” or the “Company”)
(NYSE:CLNS) today announced that its Board of Directors has
authorized the repurchase of up to an additional $300 million of
its outstanding Class A common stock. The newly authorized program
is in addition to the $300 million share repurchase program the
Company announced in February 2018, which was recently
completed.
The repurchases may occur from time to time in the open market,
in privately negotiated transactions or otherwise. The
authorization will expire in 12 months, unless otherwise extended
by the Company’s Board of Directors. The repurchase program will be
utilized at management's discretion and in accordance with the
requirements of the Securities and Exchange Commission. The timing
and actual number of shares repurchased will depend on a variety of
factors including price, corporate requirements and other
conditions.
About Colony NorthStar, Inc.
Colony NorthStar, Inc. (NYSE:CLNS) is a leading global real
estate and investment management firm. The Company resulted from
the January 2017 merger between Colony Capital, Inc., NorthStar
Asset Management Group Inc. and NorthStar Realty Finance Corp. The
Company has significant property holdings in the healthcare,
industrial and hospitality sectors, other equity and debt
investments and an embedded institutional and retail investment
management business. The Company currently has assets under
management of $43 billion and manages capital on behalf of its
stockholders, as well as institutional and retail investors in
private funds, non-traded and traded real estate investment trusts
and registered investment companies. The firm maintains principal
offices in Los Angeles and New York, with approximately 500
employees in offices located across 18 cities in ten countries. The
Company will elect to be taxed as a REIT for U.S. federal income
tax purposes. For additional information regarding the Company and
its management and business, please refer to www.clns.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” or “potential” or the negative of these
words and phrases or similar words or phrases which are predictions
of or indicate future events or trends and which do not relate
solely to historical matters. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Factors that could cause actual results
to differ materially from Colony NorthStar’s expectations include,
but are not limited to, the timing, amount and manner of stock
repurchases, if any, and the ability to realize any benefit from
the stock repurchase program. Additional information about these
and other factors can be found in Colony NorthStar’s reports filed
from time to time with the Securities and Exchange Commission.
Colony NorthStar cautions investors not to unduly rely on any
forward-looking statements. The forward-looking statements speak
only as of the date of this press release. Colony NorthStar is
under no duty to update any of these forward-looking statements
after the date of this press release, nor to conform prior
statements to actual results or revised expectations, and Colony
NorthStar does not intend to do so.
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version on businesswire.com: https://www.businesswire.com/news/home/20180523005507/en/
Colony NorthStar, Inc.Darren TangenExecutive Vice President and
Chief Financial Officer310-552-7230orAddo Investor RelationsLasse
Glassen310-829-5400
Colony NorthStar, Inc. (NYSE:CLNS)
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