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CIT to sell home lending business for $1.5 billion (Reuters via Yahoo! News) |
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Written by Webmaster
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Thursday, 03 July 2008 |
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More info...
Commercial lender CIT Group Inc agreed to sell its home lending business to private equity firm Lone Star Funds for $1.5 billion in cash to increase liquidity, and will take a related second-quarter charge of $2 billion.
Home Business CIT Group to sell home lending business for $1.5 billion (The Star-Ledger)
Commercial finance firm CIT Group is selling its home lending business to Lone Star Funds for $1.5 billion, reducing its exposure to a line of business hurt by the soured housing market, the company said this morning.
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Last Updated ( Thursday, 03 July 2008 )
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