Unstructured Finance

Flowers, TD also bid on BankUnited

June 9, 2009

BankUnitedFlorida’s BankUnited drew bids from two other groups besides the winning consortium of private equity powerhouses in the FDIC-run auction. 

Aozora-Shinsei merger back on track

May 11, 2009

SHINSEI-AOZORA/SHARESHave two big Japanese lenders, backed by private equity, found a way to come up with a sensible merger plan? A merger between Shinsei Bank, nearly a third-owned by JC Flowers, and Aozora Bank, more than half-owned by Cerberus, is reported back on track after the Western firms cooled their jets on the deal last month, saying there was no strategic plan behind the tie-up.

auf Wiedersehen, Citibank?

April 11, 2008

citibank.jpgCitigroup is eyeing a break-up or sale of its business in Germany as part of a global reorganization, sources familiar with the matter have told Reuters. Citi’s German unit, which makes most of its money from loans for everything from televisions to cars, contributed nearly 3 percent of the bank’s global pretax profit in 2006. Citi’s manager in Germany wrote to staff in March, saying the unit would not be sold, but he was replaced last week.