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# BREAKING: Silicon Valley Bank Up for Sale
- URL: https://bevnews.net/silicon-valley-bank-up-for-sale/
- Published: 2023-03-10T16:17:59.000Z
- Updated: 2023-03-10T16:17:59.000Z
- Author: Joel Whitaker

**SVB Financial,** parent of **Silicon Valley Bank,** best known in the bev/al industry for its Wine Division's annual survey of the wine industry, is seeking a buyer.

The bank is also a primary lender to the tech industry, and has faced what amounts to a run on the bank --widespread customer withdrawals that raised questions about its ability to stay in business. The bank share's shares fell 68% since Thursday before trading was halted. 

SVB Financial then scrapped a plan to sell $2.25 billion of shares and other securities and to seek a buyer. That buyer could be a larger financial institution – think a JP Morgan Chase or Bank of America, for instance – or a stake to a large investor.

The impact of a sale on the bank's Wine Division and its annual Wine Survey cannot be determined at this time. 

If a sale is not completed, it is possible the government may have to come to the bank's rescue.