Deals
JPMorgan, Lone Star Buying Dutch Bad Bank for $989 Million
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A venture between private-equity firm Lone Star Funds and JPMorgan Chase & Co. agreed to buy Propertize BV, the Dutch bad bank, for about 895 million euros ($989 million).
The transaction is expected to close in September 2016, NLFI, which manages nationalized financial companies on behalf of the Dutch government, said in a statement on Tuesday. JPMorgan and Lone Star competed with bidders including a venture between Goldman Sachs Group Inc. and Cerberus Capital Management LP for the firm, Bloomberg News reported on June 16.