After more than a week of speculation, the Federal Deposit Insurance Corp. (FDIC) announced a nearly $14 billion deal Friday to sell failed IndyMac Federal Bank to a private-equity consortium led by the head of Dune Capital Management.

Under the deal, expected to close in late January or early February, the Pasadena, Calif. thrift will be transferred to a newly formed holding company called IMB HoldCo, which will be controlled by a limited partnership owned by the investor team.

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