Central Pacific nears deal for Hawaiian bank

The utility owner is grappling with huge losses in the aftermath of last year’s wildfires on Maui. — Bloomberg

NEW YORK: Central Pacific Financial Corp is in talks to raise money from some well-known alternative asset managers to help buy rival American Savings Bank FSB from Hawaiian Electric Industries Inc.

The utility owner is grappling with huge losses in the aftermath of last year’s wildfires on Maui, according to people familiar with the matter.