AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Lazard World Dividend & Income Fund and Lazard Global Total Return and Income Fund Announce Closing of Merger

December 4, 2019

NEW YORK--(BUSINESS WIRE)--Dec 3, 2019--

Lazard World Dividend & Income Fund, Inc. (NYSE: LOR) and Lazard Global Total Return and Income Fund, Inc. (NYSE: LGI) (together with LOR, the “Funds”) today announced that the merger of LOR with and into LGI, pursuant to an Agreement and Plan of Merger (the “Merger”), was consummated as of the close of business today, December 3, 2019 (the “Closing Date”). In the Merger, shares of LOR common stock were converted into shares of LGI common stock, based on the net asset value of each Fund as of the close of business on the Closing Date. The exchange ratio at which shares of LOR common stock were converted into shares of LGI common stock was 0.6185197244. The combined fund has retained the name “Lazard Global Total Return and Income Fund, Inc.” and the “LGI” ticker symbol. LOR ceased trading as of the close of business today.

An indirect subsidiary of Lazard Ltd (NYSE: LAZ), Lazard Asset Management LLC, the Funds’ investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of October 31, 2019, LAM and affiliated asset management companies in the Lazard Group managed $235.8 billion worth of client assets. For more information about LAM, please visit www.LazardAssetManagement.com. Follow LAM at @LazardAsset.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191203006110/en/

CONTACT: Media:

Hillary Yaffe, +1 212 632 6528

hillary.yaffe@lazard.com

Investors:

Ben Wulfsohn, +1 800 823 6300

ben.wulfsohn@lazard.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Lazard Asset Management LLC

Copyright Business Wire 2019.

PUB: 12/03/2019 07:21 PM/DISC: 12/03/2019 07:21 PM

http://www.businesswire.com/news/home/20191203006110/en