Corus hires BofA to help find capital, buyer-Bloomberg

Thu Jun 4, 2009 2:33am EDT
 
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June 4 (Reuters) - Struggling real-estate lender Corus Bankshares Inc CORS.O has hired Bank of America Corp (BAC.N) to help it find capital or sell the company to avoid shutting down operations, Bloomberg said, citing people familiar with the matter.

The people, who requested anonymity, said that Los Angeles billionaire Thomas Barrack's Colony Capital LLC and New York developer Related Cos are among the firms interested in buying Corus's assets.

Investors may offer to buy the Chicago-based lender while it was still in business, or to purchase its assets out of receivership, those people told the agency.

Corus did not return messages left by the agency, while representatives from Bank of America, Colony and Related declined to comment.

Reuters could not immediately reach Corus and Bank of America for comments outside regular business hours. (Reporting by Esha Dey in Bangalore; Editing by David Cowell)

 

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