Investors Cheer Fremont's New Focus
Fremont General (FMT) shares jumped on May 22 after the company agreed to sell its commercial real estate lending business and outstanding loan portfolio to iStar Financial (SFI) for $1.9 billion. The company also said it will sell 20% of what's left of Fremont, mostly a bank called Fremont Investment & Loan, to Gerald J. Ford, a Texas billionaire known for turning around banks.
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