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Wilbur Ross affiliated investment group on board with Cascade Bancorp sale

WLR CB AcquisitionCo LLC, a Wilbur Ross affiliated investment vehicle, entered into an agreement with Bend, Ore.-based Cascade Bancorp to vote in favor of the company's pending sale to Billings, Mont.-based First Interstate BancSystem Inc.

The agreement was entered into Nov. 17, according to an amended Schedule 13D filed Dec. 22.

The investor group may not transfer any of its shares prior to the merger, except for certain limited purposes. WLR has aggregate beneficial ownership of 11,478,529 shares of the company's common stock, which translates into a 15.05% stake.