Announced
Completed
Financials
Tags
United Kingdom
Private
Completed
Mortgage Finance
mortgage lending
Cross Border
mortgage brokerage
Friendly
Acquisition
Disposal
Single Bidder
Private Equity
Majority
Spin Off
Synopsis
Private equity firm Davidson Kempner Capital Management and Citigroup completed the acquisition of mortgage financing services providers Bradford & Bingley and NRAM, from UK Asset Resolution, a unit of UK government, for $6.9bn. "UKAR’s objective is to facilitate the orderly wind down of NRAM and B&B whilst treating customers fairly. This transaction marks the end of the government’s ownership of these companies and is a significant step towards the completion of that objective," Ian Hares, UKAR CEO.
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