UK – TPG to acquire 23% of Bradford & Bingley
According to reports, TPG Capital is set to acquire a 23% stake in buy-to-let lender Bradford & Bingley for £179m. Other investors will be putting in £258m, while fees for the rights issue are thought to be around £37m. Bradford and Bingley will therefore raise £400m of new equity capital after expenses, rather than the £300m its May rights issue had planned.
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