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Britain completes 5 billion pound sale of Bradford & Bingley and NRAM - Metro US

Britain completes 5 billion pound sale of Bradford & Bingley and NRAM

A branch of Bradford and Bingley is seen in Birmingham, central England

(Reuters) – The British government on Friday completed the 5 billion pound ($6.96 billion) final sale of mortgage lenders Bradford & Bingley and NRAM Limited, which were nationalised in the aftermath of the 2008 financial crisis.

The sale was approved following a competitive auction process and will see B&B and NRAM, formerly Northern Rock, sold to a consortium comprising Davidson Kempner Capital Management and Citibank. (https://bit.ly/3qX7llh)

($1 = 0.7184 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli)

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