KKR Said to Eye GM Commercial Mortgage Unit

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008769-kkr-said-to-eye-gm-commercial-mortgage-un/

Kohlberg Kravis Roberts & Co. is in advanced talks to buy a majority stake in the commercial mortgage business at General Motors’ finance arm, GMAC, for at least $1 billion, according to a published report.

The New York Post reported Tuesday that as part of the negotiations, KKR is also expected to assist GMAC in refinancing some $3 billion to $4 billion.

GM, the world’s leading auto manufacturer, has been hit with losses at its core automotive operations but has been helped by strong results from GMAC. The commercial mortgage business is only a small part of GMAC’s line of business, which also includes auto finance and home mortgages.

For this complete story, please visit KKR Said to Eye GM Commercial Mortgage Unit.

KKR Said to Eye GM Commercial Mortgage Unit

Unknown Author

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