Oct 13 (Reuters) - Investment bank B. Riley has

agreed to sell its appraisal and valuations unit Great American

to asset-management firm Oaktree Capital for about $400 million,

WSJ reported on Sunday, citing people familiar with the matter.

As per the agreement, B. Riley will receive about $203

million in cash, preferred equity interests in a new holding

company for Great American worth about $183 million, and a

minority share of common equity interests in the holding

company, the report added.

Oaktree will end up with a majority of the common shares,

the report said, according to one of the people familiar with

the matter.

B. Riley declined to comment on the report. Oaktree

Capital did not immediately respond to Reuters' requests for

comments.

B. Riley said early last month it was in exclusive

negotiations with a global asset manager to sell a 53% stake in

its Great American Group business. Bloomberg News reported in

August that Oaktree Capital was in talks to acquire the stake.