Carlyle, Oak Hill Partner in North Carolina Bank Deal

Buyout shops Carlyle Group and Oak Hill Capital Partners will invest $155 million in the newly created FNB United Corp., which will bring together North Carolina lenders CommunityOne Bank and Bank of Granite, Reuters reported. Under the terms of the deal, Carlyle and Oak Hill will each own 24.9% of the venture. The combined FNB United will create a North Carolina lender with around $2.9 billion in assets and 63 bank branches, Reuters reported. As part of the deal, Granite shareholders will receive 3.375 FNB United shares for each share held.

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