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Doral Financial Corporation Message Board

  • roderickb99 roderickb99 Oct 4, 2008 8:31 PM Flag

    Bear Steans is now JP Morgan in 90% LLC in Delaware

    SAN JUAN, Puerto Rico -- Doral Financial Corporation (NYSE:DRL), a diversified financial services company, reports today that the sale of The Bear Stearns Companies Inc. to JPMorgan Chase & Co. does not have an impact on Doral's operations.
    Bear Stearns Merchant Banking (BSMB), a standalone affiliate of Bear Stearns, is one of Doral's many shareholders, including DE Shaw & Co., Perry Capital, Tennenbaum Capital Partners LLC, Marathon Asset Management LLC, Goldman Sachs, Eton Park Capital Management, and GE Asset Management, among others. These shareholders formed a banking entity, Doral Holdings Delaware LLC, which, in turn, invested $610 million in Doral Financial in July 2007.

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