Leumi mulls sale of Leumi USA for $1b - report Bloomberg reports that Leumi is working with a financial adviser to find buyers for Bank Leumi USA.
Bank Leumi (TASE: LUMI) is considering the sale of its American unit Bank Leumi USA for $1 billion, Bloomberg reports, according to people familiar with the matter. Bloomberg says that Leumi is working with a financial adviser to find buyers for Bank Leumi USA. One of the sources said that Leumi may also consider an initial public offering for the unit. The plans are at an early stage and Bank Leumi may decide to keep the business, the sources told Bloomberg.
Israel s Bank Leumi said to weigh sale of U S bank arm americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
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161 Maiden Lane, Fortis CEO Jonathan Landau and Bank Leumi CEO Avner Mendelson (Hill West Architects; Fortis; Bank Leumi)
The lender behind a troubled condominium building in the South Street Seaport is seeking to foreclose on more than $100 million worth of loans tied to the property and strip the developer of ownership.
Bank Leumi USA wants to foreclose on $120 million in loans it issued to developer Fortis Property Group to construct a 60-story luxury residence at 161 Maiden Lane.
The bank first tried selling the debt in October, claiming Fortis defaulted on its loan payments in June. But without a buyer, Leumi wants the government to sell the building, “so as to obtain the greatest return of the sale, whether sold jointly as a single parcel or sold separately as two or more parcels,” the lender said in a complaint filed last week in New York State Supreme Court.