Desai Capital Management Inc., New York, has announced a $78 million recapitalization of Lenders Service Inc., a residential real estate services company, under which DCMI and its affiliates will control a majority of LSI stock.LSI, an indirect, wholly owned subsidiary of Merrill Lynch & Co. Inc., provides appraisal, title, and closing services through a network of independent appraisers, title abstractors, and closing agents. Merrill Lynch will retain a significant minority interest in LSI, which is based in Coraopolis, Pa. The transaction is expected to close in the third quarter.
Processing Content
