American group eye £1bn bid for Northern Rock

An American private equity group is considering a £1bn (€1.13bn) bid for UK nationalised lender Northern Rock, it was reported today.

Sun, 19 Jun, 2011 - 15:02

An American private equity group is considering a £1bn (€1.13bn) bid for nationalised lender Northern Rock, it was reported today.

Blackstone, headed by billionaire Stephen Schwarzman, is hoping for a repeat of its successful investment in BankUnited of Florida, which it acquired with partners at the height of the financial crisis, The Observer said.

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