Finance / United States
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Merrill Rids Itself Of US$11.1bn In CDOs
August 2008 | In The NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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On July 28, Merrill Lynch announced that it sold US$11.1bn in collateralised debt obligations (CDOs) to private equity firm Lone Star Capital for US$6.7bn, in its latest effort to shore up capital. The sale rids the troubled financial giant of nearly 60% of its exposure to mortgage-related securities.