National City Gets $7 Billion From Corsair Capital

Cleveland based National City Corp., Ohio's largest bank, is all set to receive between $6 to $7 billion in a capital infusion bailout from an investment group led by the New York based private equity group Corsair Capital LLC. The massive investment, which amounts to nearly half of National City's stock at a price of $5 per share, is meant to compensate for National City's subprime mortgage related losses.

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