Northern Rock has appointed Blackstone as an adviser as it continues to work towards completing a st...
Northern Rock has appointed Blackstone as an adviser as it continues to work towards completing a strategic review by February 2008. The mortgage bank said The Blackstone Group will not take part in any bidding process but advise on future funding arrangements. Northern Rock said all proposals it has received from third parties are preliminary in nature. “There remains no certainty that any third party discussions will lead to a transaction,” it said in a statement. A Virgin Group-led consortium and U.S. buyout firm JC Flowers have confirmed they are considering a takeover. Cerber...
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