FT.com / Companies / Banks - Ross and Carlyle eye rescue bid for BankUnited: "Ross and Carlyle eye rescue bid for BankUnited
By Henny Sender and Saskia Scholtes in New York
Published: February 10 2009 00:03 | Last updated: February 10 2009 00:03
Two leading forces in the investment industry, distressed asset investor Wilbur Ross and the Carlyle private equity group, are considering a joint bid for BankUnited Financial, a troubled Florida-based bank with $14bn in assets, according to people familiar with the matter.
The two investors were conducting due diligence as Tim Geithner, US Treasury secretary, prepared a financial sector rescue plan that would seek to induce private capital to pursue deals for distressed financial institutions and assets.
BankUnited has said in a Securities and Exchange Commission filing that its capital ratios had fallen below regulatory minimums. The filing said the bank “continues negotiations to raise capital and restructure its balance sheet. If such negotiations are not successful, it is highly unlikely that we will be able to continue as a going concern.”
BankUnited did not return a call requesting comment."
Monday, February 9, 2009
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