Corsair group nears $7 billion deal with Nat City: source

Mon Apr 21, 2008 1:55pm BST

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NEW YORK (Reuters) - A group of investors led by private equity firm Corsair Capital is close to a deal to invest between $6 billion and $7 billion into National City NCC.N, the 10th-largest bank in the United States, a source familiar with the transaction said on Sunday.

If a deal is struck, it could be announced as early as Monday, the source said.

Such a deal would likely see the investors end up with a stake of around 50 percent in National City, with Corsair owning around 9.9 percent, the source said.

Corsair was not immediately available for comment. National City declined comment.

(Reporting by Megan Davies; Editing by Jan Paschal)

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