CIT Group will engage in commercial crediting, having sold the hypothec actives for the sum of $10 billion
Financial Corporation CIT Group has declared sale of the hypothec actives for the sum of $10 billion, planning completely to leave this niche of business, captured by crisis.
According to the terms of transaction, declared on Tuesday, Lone Star Funds would get a share in the company for $1,5 billion, and also would take up promissory notes of CIT Group in the size of $4,4 billion.
CIT will also sell the hypothec portfolio of shares for the sum of $470 million to the company Vanderbilt Mortgage and Finance - for $300 million. To a word, the buyer is one of divisions of the investment company Berkshire Hathaway, which belongs to the richest businessman in the world.
The financial corporation CIT, which is uniting the bank, consulting, insurance and investment business, has representations in 50 countries of the world with client base for more than 1 million people.