RPT-National City near investment deal of $6 bln-7bln -source

Sun Apr 20, 2008 8:14pm EDT
 
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NEW YORK, April 20 (Reuters) - A group of investors led by private equity firm Corsair Capital is close to a deal to invest between $6 billion and $7 billion into National City (NCC.N: Quote, Profile, Research, Stock Buzz), the 10th-largest bank in the United States, a source familiar with the transaction said on Sunday.

If a deal is struck, it could be announced as early as Monday, the source said.

Such a deal would likely see the investors end up with a stake of around 50 percent in National City, with Corsair owning around 9.9 percent, the source said.

Corsair was not immediately available for comment. National City declined comment. (Reporting by Megan Davies; Editing by Jan Paschal)

 

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