Mayer Brown Aids Wells Fargo In $6B WestLB Portfolio Buy

Law360, New York (June 25, 2012, 12:58 PM ET) -- Wells Fargo & Co. will purchase a $6 billion subscription finance portfolio from WestLB AG, it said Monday, becoming the latest global financial firm to benefit from the imminent breakup of the ailing German bank.

Financial terms weren't disclosed. The portfolio has $3 billion in outstanding credit lines, said Wells Fargo, which will also take on WestLB's eight-member subscription finance team and its chief, Dee Dee Skylar.

Subscription finance provides loans and letters of credit to private equity and real estate investment fund managers during subscription...
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