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.

American group eye £1bn bid for Northern Rock
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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CourtsBusinessHeathrowPlace: UKPlace: FloridaPlace: BritainPlace: Mansion HousePerson: Stephen SchwarzmanPerson: SchwarzmanPerson: ChancellorPerson: George OsborneOrganisation: Northern RockOrganisation: BlackstoneOrganisation: BankUnitedOrganisation: The ObserverOrganisation: Southern CrossOrganisation: GMBOrganisation: Mail on SundayOrganisation: Virgin MoneyOrganisation: National Australia BankOrganisation: CoventryOrganisation: NBNKOrganisation: OlivantOrganisation: Tesco BankOrganisation: Northern Rock PLCOrganisation: Northern Rock Asset ManagementOrganisation: NRAMOrganisation: Deutsche BankOrganisation: Lloyds
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