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Sternlicht's Starwood eyeing Corus assets -- WSJ

Mon Jul 13, 2009 7:51pm EDT

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NEW YORK, July 13 (Reuters) - Private equity firm Starwood Capital Group is bidding on assets of Corus Bankshares Inc CORS.O, a Chicago-based lender hit hard by losses on condominium loans, the Wall Street Journal reported on its website on Monday.

The private equity firm is also asking other investors to gauge their interest in bidding alongside it, the Journal reported.

Last month, a source told Reuters that Corus had retained Bank of America Corp (BAC.N) to help it find capital or sell the lender.

A Starwood Capital representative declined to comment. Corus could not be reached immediately for comment.

Barry Sternlicht, who controls Starwood Capital, has previously formed companies such as Starwood Hotels & Resorts Worldwide Inc (HOT.N) and property finance company iStar Financial Inc (SFI.N). (Reporting by Paritosh Bansal; editing by Andre Grenon) (For more M&A news and our DealZone blog, go to www.reuters.com/deals)



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