NEW YORK, Oct 2 (Reuters) - A consortium led by Starwood Capital Group, which includes private equity firm TPG, is the likely winner of the auction for assets of failed Corus Bank, a source familiar with the situation said on Friday.
The auction is being run by the Federal Deposit Insurance Corp (FDIC). The consortium is made up of Starwood and TPG, who would have significant equity stakes, with billionaire investor Wilbur Ross and Perry Capital having smaller stakes, the source said.
(Reporting by Megan Davies)
((megan.davies@thomsonreuters.com ; +1 646 223 6112; Reuters Messaging: megan.davies.thomsonreuters.com@reuters.net)) Keywords: CORUS/STARWOOD (For more M&A news and our DealZone blog, go to http://www.reuters.com/deals) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The auction is being run by the Federal Deposit Insurance Corp (FDIC). The consortium is made up of Starwood and TPG, who would have significant equity stakes, with billionaire investor Wilbur Ross and Perry Capital having smaller stakes, the source said.
(Reporting by Megan Davies)
((megan.davies@thomsonreuters.com ; +1 646 223 6112; Reuters Messaging: megan.davies.thomsonreuters.com@reuters.net)) Keywords: CORUS/STARWOOD (For more M&A news and our DealZone blog, go to http://www.reuters.com/deals) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.