Cleary Gottlieb Steen & Hamilton has taken the lead role on financial services company BBVA Compass's acquisition of Guaranty Financial Group, a Texas-based bank teetering on the edge of bankruptcy. Last Friday (21 August) the Federal Deposit Insurance Corporation (FDIC) took possession of Guaranty, before turning it over to BBVA, which gained $12bn (£7.3bn) in assets and $11.5bn (£7bn) in liabilities.
August 25, 2009 at 06:34 AM
1 minute read
The original version of this story was published on Legalweek
Cleary Gottlieb Steen & Hamilton has taken the lead role on financial services company BBVA Compass’s acquisition of Guaranty Financial Group, a Texas-based bank teetering on the edge of bankruptcy.
Last Friday (21 August) the Federal Deposit Insurance Corporation (FDIC) took possession of Guaranty, before turning it over to BBVA, which gained $12bn (£7.3bn) in assets and $11.5bn (£7bn) in liabilities.
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