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National City Close to Investment Deal
Topics:Credit | Subprime Lending | Mortgages | Banking
Sectors:Financial Services | Banks
Companies:National City Corp
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A group of investors led by private equity firm Corsair Capital is close to a deal to invest between $6 billion and $7 billion into National City, the 10th-largest bank in the United States, a source familiar with the transaction said Sunday.
INVESTOR TAKEAWAY
Such a deal would likely see the investors end up with a stake of around 50 percent in National City [NCC
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], with Corsair owning around 9.9 percent, the source said.
Corsair was not immediately available for comment. National City declined comment.
Copyright 2009 Reuters. Click for restrictions.
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