Deals
JPMorgan, Wells Said to Make Final Bids for Anglo Irish Loans
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JPMorgan Chase & Co. and Wells Fargo & Co. are among banks that made final bids to buy portions of Anglo Irish Bank Corp.’s $9.65 billion of U.S. property loans, according to three people with knowledge of the sales.
The lenders are looking to acquire pieces of the $4.52 billion of performing loans the Dublin-based bank is shedding, said the people, who asked not to be identified because the talks are private. Investor groups led by private-equity firms Blackstone Group LP, working with Deutsche Bank AG, and Lone Star Funds also submitted offers for parts of the portfolio, which include $5.13 billion of subperforming and non-performing debt, the people said.