Wilmington Trust to seek private equity investment

Wilmington Trust Corp, a Delaware bank set up by the du Pont family, is looking for private equity investment, according to news reports. If the bank cannot raise more capital, it may try to sell itself.

(Reuters) – Wilmington Trust Corp (WL.N), the Delaware bank founded by the du Pont family, is seeking capital from private equity firms, Bloomberg reported, citing four people familiar with the matter.

The bank may try to sell itself if it can’t raise more capital, two of those sources said.

Wilmington Trust is getting advice on its options from Lazard Ltd and JP Morgan Chase & Co, the sources told Bloomberg.

Wilmington Trust, Lazard and JP Morgan Chase were not immediately available for comment by Reuters outside regular U.S. business hours.
(Reporting by Mansi Dutta in Bangalore; Editing by David Holmes)