Finance entrepreneur goes after B&B
By Catherine Woods, published 1 year ago in Finance & Banking.
Shares in beleaguered UK lender Bradford & Bingley have risen after news insurance magnate Clive Cowdery is seeking control of the company for £400m.
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Cowdery’s investment fund, Resolution, will team up with other investors to inject the cash in Bradford & Bingley, which is currently trying to raise funds through a rights issue and tie-up with private equity firm TPG Capital.
Real Business’s sister publication Real Deals reported earlier this month that TPG Capital wants to take a 23 per cent stake in Bradford & Bingley, the UK’s largest buy-to-let lender, worth £179m.
Cowdery made millions when he sold insurance business Resolution Life to Pearl.
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