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Friday, January 31, 2014

Lone Star hires advisors for sale of IKB - sources, (NYSE: BAC)

Private equity investor Lone Star has hired Rothschild and Bank of America Merrill Lynch as advisors for the planned sale of German corporate bank IKB, two people familiar with the transaction said. The sale of IKB, one of Germany's highest-profile casualties of the financial crisis, will likely be kicked off shortly, they said.Lone Star, IKB, Rothschild and Bank of America Merrill Lynch declined to comment.

Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 1.5% or $0.25/share to $16.93. In the past year, the shares have traded as low as $10.98 and as high as $17.42. On average, 101272000 shares of BAC exchange hands on a given day and today's volume is recorded at 91173600.