NEW YORK (TheStreet) -- Bank of America's 4.9% stake in MBIA was made in order to resolve a longstanding legal dispute between the companies, rather than as a growth initiative, CEO Brian Moynihan said Wednesday. The MBIA stake was strictly a financial matter dictated by the negotiations, Moynihan said speaking to an investor at the bank's annual shareholder meeting, adding...
(12 days ago)
Barclays has ended up owning a $900m stake in a Dutch cable company Ziggo after it failed to sell the shares in the market following jitters caused by Cyprus.
(2 months and 1 day ago)
The decision to sell its 5% stake in the Seoul lender comes as the Dutch lender seeks to slim down and become a bank focused on Europe, rather than a sprawling global giant.
(3 months and 5 days ago)
NEW YORK -- Bank of America settled longstanding litigation with MBIA, agreeing to pay $1.6 billion to the insurer and take a 4.9% stake in MBIA. Bank of America will remit to MBIA bonds it purchased through a tender offer that mature in 2034. The bank also will terminate other trades between the two institutions, including credit default swaps it bought from MBIA on...
(14 days ago)
NEW YORK (TheStreet) -- MBIA shares were up more than 40% following a report in The Wall Street Journal the insurer had settled a bitter multi-year legal dispute with Bank of America and that the bank had taken a 5% stake in MBIA. As part of the deal, Bank of America will pay MBIA $1.7 million in cash while providing the insurer with a $500 million credit line, the report...
(14 days ago)
An initial public offering in New York to sell about 25 per cent of the bank would possibly reap up to £9billion, which could be used to buy back part of the Government's 82 per cent stake in the bank.
(2 months and 26 days ago)
In attempt to unlock some value, IDBI Bank may try to sell shares of unlisted companies in this calendar year, RK Bansal, ED CFO, IDBI Bank told CNBC-TV18 today.
(1 month and 23 days ago)
The Reserve Bank has agreed to sell its 50 per cent stake in banknote firm Securency to its joint venture partner, Innovia Films.
(3 months and 8 days ago)
Taxpayer-backed Royal Bank of Scotland said the Government should be able to start selling off its stake within a year as the bank today reported its best quarterly profit since 2011.
(18 days ago)
The ESPN reported on April 9, 2013, that Jay-Z, the minority owner of Brooklyn Nets, has started to sell his stake in the team in order to be an NBA agent.Jay-Z's .067 percent (1/15th...
(1 month and 10 days ago)
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