An AmSouth spokesman tells GlobeSt.com that negotiations areunder way with potential investors for the assets, indicating thepreference is to sell the 52 branches as a portfolio. "We'd like tosell these as soon as possible as the merger will close nextmonth," he adds.
Branches for sale are situated in Decatur, Huntsville, Mobile,Montgomery, Selma and Tuscaloosa, AL; and Clarksdale, Greenville,Greenwood and Starkville, MS. Tennessee branches up for sale arelocated in Crossville, Dayton-Spring City, Fayetteville, Nashville,Paris, Shelbyville and Smithville.
According to a press release about the agreement, the Departmentof Justice and the Federal Reserve determined which branches neededto be sold based on deposits, loans and fixed assets. Divestituresare scheduled to take place in the first half of 2007.
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