SOFTBANK COMPLETES *FORTRESS ACQUISITION*

NEW YORK : Japan's Softbank Group Corp has completed its US$ 3.3 billion cash deal for Fortress Investment Group  LLC, marking the first time a publicly traded United States private equity firm has delisted.

Trading in Fortress shares was halted before Wednesday morning's announcement. It's stock closed its last day trading on Tuesday at US$ 7,85 a share, almost 58 percent below the 2007 initial public offering price.

Softbank struck the deal to buy Fortress for US$ 8.08 a share in February. The price was 39 percent above the stock's close the day before the acquisition was announced.

Fortress's day-to-day operations and investing style hasn't changed because of the acquisition, said Fortress co-chairman Wes Edens in an interview.

'It hasn't changed it much other than that we don't have to do earnings calls,'' he said.

''We are rooting for being private. I'm excited about that.''

Fortress, founded by Edens and chief executive officer Randy Nardone in 1998, will operate independently and remain headquartered, here, said Softbank on Wednesday in a statement.

The Japanese company led by founder Masayoshi Son, said it's committed to maintaining Fortress's management, business model, brand, employees, processes and culture. ''Bloomberg''.