Blackstone Inc and Apollo Global Management were among about 20 bidders for some assets of collapsed Silicon Valley Bank, the Federal Deposit Insurance Corporation (FDIC) said on Wednesday.
FDIC, which took over SVB after depositors rushed to pull out their money in the bank, received equity appreciation rights in its stock worth as much as $500 million in return.
The deal announced in March said First Citizens would acquire SVB's assets of $110 billion, deposits of $56 billion and loans of $72 billion.
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