A group led by Barry Sternlicht’s Starwood Capital investment company has won the bidding for the assets of failed Corus Bank, with the help of a financing package crafted by the FDIC regulator. The purchase price of about $550m values the assets of the US bank – which specialised in loans to condominium projects – at about $2.5bn, or about half the $5bn face value of its loans.

This entry was posted by Gwen Robinson on Tuesday, October 6th, 2009 at 4:50 and is filed under Capital markets, Private equity. Tagged with corus, fdic, starwood. Edit this entry.