Blackstone moves to take full ownership of Stearns Lending when lender exits Chapter 11 bankruptcy

When and if Stearns Holdings, the parent company of Stearns Lending, successfully completes a “comprehensive financial restructuring” and reorganization through Chapter 11 bankruptcy, the company will emerge with a new owner: Blackstone. The agreement is the result of negotiations between Stearns, Blackstone, and PIMCO. Here’s the full story.