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Kodak $765M Loan Deal Under Scanner Of Federal Agency That Put It Together

reported Monday. ” data-reactid=”19″>Eastman Kodak Company (NYSE: KODK) is facing an inquiry from the United States International Development Finance Corp, the federal agency that planned to extend it a $765 million loan to manufacture drug ingredients, the Wall Street Journal reported Monday. 

The spokesperson said the inspector general was looking into why the Rochester, New York-headquartered company was selected for the loan and “whether Trump administration officials involved in the award had any conflicts of interest, and the impact of Kodak’s lobbying effort.”

Warren expressed gladness over the inspector general’s investigations of “this massive fiasco of a deal.”

The Kodak deal would have reportedly helped lessen U.S. reliance on China and India for the production of drugs and also help expedite their manufacturing.

spike 25% on the day.” data-reactid=”29″>The U.S. Securities and Exchange Commission is also looking into the loan deal’s disclosure, made on July 27, which caused the company’s shares to spike 25% on the day.

The DFC paused the process last month, while Kodak said it would carry out an internal investigation to review the deal.

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