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Sunday, December 28, 2008

Report: IndyMac Deal Near

by Calculated Risk on 12/28/2008 10:21:00 PM

From the NY Times: Private Equity Firms Are Near Deal to Buy IndyMac

The deal is in the final stages of negotiations, which are private, and could be announced as early as Monday ... The team of buyers include the private equity firms J. C. Flowers & Company and Dune Capital Management and the hedge fund Paulson & Company, the people involved in the deal said. It was unclear exactly how much capital the buyers would inject into IndyMac, but they would be shouldering a portion of the losses the bank may have on mortgages and other assets, these people said.

The proposed deal is unusual because it is one of the first transactions involving unregulated private equity firms acquiring a majority stake in a bank holding company.
Note: Light posting for next few days. Recharging my batteries in the mountains. Best to all.