Central Pacific Financial (CPF)is in talks to raise $1B from some alternative asset managers to help buy rival American Savings Bank FSB fromHawaiian Electric Industries (HE) as the utility ownergrapples withhuge losses in the aftermath of last year’s wildfires on Maui, people familiar with the matter told Bloomberg’s Gillian TanandMatthew Monks.
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Read More on HE:
- Hawaii Attorney General says ‘no single factor’ led to Maui fire devastation
- Hawaiian Electric call volume above normal and directionally bullish
- Powell says ‘time has come’ for Fed to cut: Morning Buzz
- Hawaiian Electric upgraded to Equal Weight from Underweight at Wells Fargo
- Maui judge resolves roadblock in Hawaiian Electric settlement, AP reports
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