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SVB Financial obtains approval to sell investment bank back to founder for $100 Million

In a significant development, SVB Financial Group, the previous owner of Silicon Valley Bank, has received court authorization to sell its investment banking division for $100 million.

This comes four years after the company, SVB, initially purchased the unit for $280 million. Photo: Bloomberg
This comes four years after the company initially purchased the unit for $280 million. Photo: Bloomberg

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