Private investors led by Texas billionaire Robert...

Private investors led by Texas billionaire Robert M. Bass will make an initial capital investment of $350 million in the insolvent American Savings & Loan, not $550 million as originally agreed to last September. But the investors have also agreed with federal regulators to add an additional $150 million in capital within three years, industry sources said. The sale of Stockton-based American Savings is expected to close next week. The move to lower the capital required came after Bass agreed to modify his plan to form an affiliate of American Savings to make corporate acquisitions using the thrift’s deposits.