Texas Pacific Group Eyeing Up More UK Acquisitions
While the ink may not yet have dried on their deal to buy a 23% stake in Bradford and Bingley, there are rumours that Texas Pacific Group is looking at a whole host of other UK banks with a view to taking more stakes in the sector. There have also been a number of other prominent investors mentioned, such as Blackstone, KKR and JC Flowers, as private equity firms look to take advantage of the recent weakness in the UK banking sector.
Indeed, we have even heard rumours of a possible bid for Bradford and Bingley and while no names where mentioned this is not beyond the realms of reality. If the sector were to become the centre of takeover activity it may offer a quick exit route for those at Northern Rock, and the chance to repay the government debt, but whether any investor would be able to refinance the £20 billion plus of debt at Northern Rock remains doubtful.
While the private equity firms are looking to acquire stakes in the sector it does not look as though banking shares are back in favour with the general investing public and pension funds. Time will tell who is correct in their stance.
Share this..
Related stories
Are you getting value for money from your landlord?
A report by the housing charity Shelter this week confirmed the difficulties facing those desperate to sign up to rented accommodation after falling foul of mortgage credit restrictions in the short-term. It is believed there are around 3.5 million rented properties in the UK, housing around 8 million people, making the rental market in the UK significant to say the least. So are you getting value...
Read MoreLloyds bank announces terms of fundraising
Lloyds bank has today announced that the company has received across-the-board support for a bond exchange program and the company's £13.5 billion rights issue. All in all, the company refinancing will total around £22.5 billion, an increase from the initial estimate of £21 billion. The £13.5 billion rights issue is a record in the UK in itself although this does grow when you also take into a...
Read MoreRecession Watch : Bank of England
In the early days of the UK recession, like so many regulators around the world, the Bank of England effectively "got it wrong". Nobody had ever seen a situation developing such as that which transferred from the US sub-prime mortgage market to the worldwide money markets. The fact that many banks in many countries had significant exposure to the US, by far the largest financial market in the worl...
Read MoreThe fees continue to mount for Lloyds bank
It has been revealed that a potential £10 billion rights issue from Lloyds bank would generate in excess of £300 million in fees for those banking institutions involved in the deal. When you also add in the potential £1 billion break free which the UK government is looking to charge Lloyds bank for leaving the toxic asset protection scheme, the fees are certainly starting to mount up for Lloyds...
Read MoreLegal challenge to block Lloyds TSB and HBOS merger
There has been a new development in the Lloyds TSB and HBOS merger with a group of businessmen set to mount a legal challenge to try and block the merger. The group of Scottish businessmen have made public their plans to block the merger although it is not clear on what grounds and whether it will ultimately be successful.
This is just the latest setback in a saga which has now gone...