IE 11 is not supported. For an optimal experience visit our site on another browser.

Countrywide seeking a new investment: report

Countrywide Financial Corp is working to structure another strategic investment similar to the deal Bank of America Corp struck last month, the New York Post reported in its online edition on Tuesday.
/ Source: Reuters

Countrywide Financial Corp is working to structure another strategic investment similar to the deal Bank of America Corp struck last month, the New York Post reported in its online edition on Tuesday.

Countrywide received a $2 billion injection from Bank of America, helping the largest U.S. mortgage lender shore up its finances as it struggles with a liquidity crunch.

Countrywide continues to work with Goldman Sachs and law firm Wachtell Lipton Rosen & Katz to structure another similar strategic investment, the Post reported, citing sources familiar with the company’s plans.

It’s unclear at this point who is involved in the investment, the report said. But a group that could include JPMorgan Chase & Co and Citigroup Inc as well as several hedge funds has expressed interest in Countrywide, the report said, citing unnamed sources.

A final deal could be announced by the end of the month, the report said.

Officials at Countrywide, JPMorgan and Citigroup were not immediately available for comment.