B. Riley to Sell Its Great American Unit to Oaktree, WSJ Says

B. Riley Financial Inc. has agreed to sell its Great American unit to Oaktree Capital for about $400 million, the Wall Street Journal reported.

B. Riley will receive about $203 million in cash; preferred equity interests in a new holding company for the appraisal and valuations unit valued at about $183 million; and a minority share of common equity interests in the holding company, the Journal said Sunday, citing people with knowledge of the matter.

A spokesperson for B. Riley declined to comment to Bloomberg on the report.

B. Riley has been seeking to raise cash by selling core assets ...