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Washington Mutual membership purchase letter of intent approved
By Caroline Salls
Pittsburgh, Sept. 25 - Washington Mutual, Inc. obtained court approval to enter into a letter of intent with Goldman, Sachs & Co., in connection with Goldman's potential purchase of the company's investment membership interest in JPMC Wind Investment Portfolio, LLC, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.
The purchase price presented by Goldman is in excess of $15 million but has been kept confidential, according to the motion.
Washington Mutual has agreed to reimburse Goldman for fees and expenses it has incurred up to $300,000.
Washington Mutual, a Seattle-based savings and loan holding company, filed for Chapter 11 bankruptcy on Sept. 26, 2008. Its Chapter 11 case number is 08-12229.
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