NEW YORK - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Wells Fargo buys Bank of Ireland's real estate loans: report
(Reuters) - Wells Fargo & Co (WFC.N) won a bid for Bank of Ireland's (BKIR.I) $1.4 billion U.S. commercial real estate loan portfolio, the Wall Street Journal said, citing people familiar with the matter.
The 25 loans are backed primarily by commercial real estate in New York, Boston and Washington, and are classified as performing, the Journal said.
The loans were sold at close to face value, the people told the paper.
A spokesman for Wells Fargo, the fourth-largest U.S. bank by assets, declined to comment to the Journal. Wells Fargo could not immediately be reached for comment by Reuters outside of regular U.S. business hours.
Bank of Ireland was told to raise 4.2 billion euros ($5.9 billion) in additional core Tier 1 capital following stress tests required under the terms of the 85 billion euro EU-IMF bailout Ireland received last year. [ID:nL3E7IR1E5] ($1 = 0.703 Euros)
(Reporting by Sakthi Prasad in Bangalore; Editing by Frederik Richter)
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