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June 2, 2014
15:50 EDTDRLDoral Financial evaluating alternative strategic initiatives, working with banks
Doral Financial disclosed in a regulatory filing that the company is developing and evaluating alternative strategic initiatives to respond to the significant trends affecting the company’s business in order to maximize shareholder value. In particular, the company has engaged several investment banking firms to assist it in structuring its businesses so that the company addresses in a comprehensive way the adverse effects on its business from the continued economic problems in Puerto Rico while allowing the company to capitalize on its success in building its U.S.-based business. Although at this time the company has not determined to pursue any particular strategic transaction, the company expects during 2014 to transform its businesses which may include, among other actions, selling performing and non-performing assets and businesses, improving the company’s capital structure to allow the company to pursue new business opportunities and focusing the company’s future growth on the U.S. market or undertaking other strategic transactions to fully address the regulatory directives of the FRBNY, FDIC and/or the Office of the Commissioner.
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