Ally’s ResCap Unit Said to Hire Centerview for Restructuring
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Ally Financial Inc.’s money-losing mortgage unit Residential Capital LLC hired Centerview Partners LLP to advise on restructuring and negotiations with creditors, said people familiar with the matter.
Ally is weighing options for ResCap, including a potential bankruptcy filing, said one of the people, who declined to be identified because the discussions are private. Centerview is examining what steps will be needed to put ResCap on firmer financial footing before Detroit-based Ally pursues an initial public offering next year, the people said.