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Article: Business Digest
- Article from:
- The Washington Post
- Article date:
- October 7, 2009
CopyrightCopyright 2009 The Washington Post. This material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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BANKING
Investors led by Starwood Capital and TPG agreed to buy the
assets of failed Chicago lender Corus Bankshares for $554.4 million,
the Federal Deposit Insurance Corp. said.
The investment group, called Northwest Investments Inc., also
includes Perry Capital and WLR Lefrak, according to a statement
posted today on the FDIC's Web site. The FDIC will maintain a 60
percent equity interest worth $831.6 million. The transaction is
expected to close Oct. 15, the FDIC said.
-- Bloomberg News
AUTOMOTIVE
Delphi, once the largest U.S. auto-parts maker, exited bankruptcy
after almost four years in a sale to lenders and former parent
General Motors.
Lenders including Elliott Management are buying ...