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Private equity firms and other buyers have been circling failed and struggling banks that are desperately trying to sell off assets or even stakes.

Just one day after the biggest U.S. banks gave it a $30 billion infusion, First Republic Bank was in talks to sell a piece of itself to other banks or private equity firms, three people with knowledge of the process said, an indication that the imperiled lender is far from conquering its troubles.

The deals under discussion, which would involve selling new shares, represent a fresh level of urgency for a bank that has been under mounting pressure since last week’s collapse of Silicon Valley Bank. First Republic had been working with advisers all week, exploring possible deals, and a transaction could still result in a full sale of the company. All the while, customers have been pulling deposits and the bank’s market value shrank to $4 billion

Keep reading this article on The New York Times Business.

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