{"id":24678,"date":"2023-06-19T17:57:15","date_gmt":"2023-06-19T21:57:15","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/svb-financial-reaches-deal-to-sell-investment-bank-in-restructuring-milestone\/"},"modified":"2023-06-19T17:57:16","modified_gmt":"2023-06-19T21:57:16","slug":"svb-financial-reaches-deal-to-sell-investment-bank-in-restructuring-milestone","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=24678","title":{"rendered":"SVB Financial Reaches Deal to Sell Investment Bank in Restructuring Milestone"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000673480\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        SVB Financial<br \/>\n       Group, the former owner of Silicon Valley Bank, whose collapse earlier this year sent shock waves across the U.S. banking sector, has reached a deal to sell its investment banking division.<\/p>\n<p>SVB Financial said Sunday that it had entered into a definitive purchase agreement to sell SVB Securities to a group including some of its own managers, led by Jeff Leerink, and backed by hedge fund Baupost Group. The deal will see the bidders acquire the healthcare-focused business\u2014to be renamed Leerink Partners\u2014for a combination of cash, repayment of an intercompany note, the assumption of certain liabilities, and a 5% equity instrument in the buyer entity.<\/p>\n<div class=\"paywall\">\n<p>\u201cThis transaction is a significant milestone in SVB Financial Group\u2019s strategic alternatives process,\u201d SVB Financial\u2019s chief restructuring officer, Bill Kosturos, said in a statement.<\/p>\n<p>Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/svb-restructuring-crypto-8364064d?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SVB Financial Group, the former owner of Silicon Valley Bank, whose collapse earlier this year sent shock waves across the U.S. banking sector, has reached a deal to sell its investment banking division. SVB Financial said Sunday that it had entered into a definitive purchase agreement to sell SVB Securities to a group including some [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-24678","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SVB Financial Reaches Deal to Sell Investment Bank in Restructuring Milestone | iFintechWorld<\/title>\n<meta name=\"description\" content=\"SVB Financial Group, the former owner of Silicon Valley Bank, whose collapse earlier this year sent shock waves across the U.S. banking sector, has\" \/>\n<meta name=\"robots\" content=\"index, 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