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April 25, 2008
National City to Raise $7 Billion in Capital
After a first quarter net loss of $171 million, or $.27 per diluted share, Cleveland, Ohio-based National City Corp. said its Board plans to raise $7 billion in capital, with a large portion of that capital infusion—approximately $985 million—coming from private firm Corsair Capital, LLC. The remaining capital will be raised through investors, including some of National City's existing institutional stockholders.
Posted by S. Germain at April 25, 2008 08:08 AM