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Article: United States : SJB s Ross, Partners Said to Seek $1 Billion for Bank.
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
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Byline: babalu03
Related Cos. founder Stephen Ross and partners Jeff Blau and Bruce Beal Jr. are trying to raise about $1 billion for their new bank that may acquire a seized U.S. lender, people familiar with the plan said.
SJB National Bank, owned by the executives, is working with advisers including Deutsche Bank AG to raise capital in a private placement, according to the people, who declined to be identified because the plans are private. SJB won approval to bid on failing institutions from the FDIC, according to an Oct. 26 letter from the regulator obtained by Bloomberg News.
The FDIC had 416 companies on its list of problem lenders as of ...