The Treasury has sold worth of 13 billion British pounds of Northern Rock mortgages to a US private venture firm in what is thought to be the greatest ever budgetary source deal by the European government.
Northern Rock
Breaking News
UK Asset Resolution, dubbed as Britain's "bad bank" has agreed to sell the Northern Rock loan portfolio for US$615 million.
UKAR announced the sale of a Northern Rock portfolio to JC Flowers and Marlin Financial.
J.C. Flowers announced that they are in the final negotiations to buy US$682.8 million worth of Northern Rock loans.
Virgin Money recently returned to profitability after its acquisition of Northern Rock last January 2012.
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