01-02-2009, 05:27 PM
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always learning
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Join Date: Jun 2004
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IndyMac sold to investor group for $13.9B
WASHINGTON - A seven-member group of investors has teamed up to buy the remnants of failed lender IndyMac Bank for $13.9 billion, federal regulators said Friday.
The Federal Deposit Insurance Corp. said a holding company led by Steven Mnuchin, co-chief executive of private equity firm Dune Capital Management, agreed to buy IndyMac in a deal reached Wednesday and expected to close by the end of March.
The investors have formed a partnership, called IMB Management Holdings LP, that includes Dell Inc. founder Michael Dell's investment firm, MSD Capital.
http://www.msnbc.msn.com/id/28472166/
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