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CIT Agrees to Sell Home Lending Business (Centre Daily Times) |
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Written by Webmaster
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Wednesday, 02 July 2008 |
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CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, announced today that it has agreed to sell its Home Lending business, consisting of $9.3 billion in assets and related servicing operations, to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion of outstanding debt and other related liabilities. The servicing centers, which employ approximately 300 ...
CIT Group to sell home lending business for $1.5 billion cash, manufactured housing for $300M (Minneapolis-St. Paul Star Tribune)
NEW YORK - Commercial finance firm CIT Group says it will sell its home lending business to Lone Star Funds for $1.5 billion in cash plus $4.4 billion of assumed debt.
Home Business CIT Group to sell home lending business for $1.5 billion (The Star-Ledger)
Commercial finance firm CIT Group is selling its home lending business to Lone Star Funds for $1.5 billion, reducing its exposure to a line of business hurt by the soured housing market, the company said this morning.
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Last Updated ( Wednesday, 02 July 2008 )
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