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Britain completes 5 billion pound sale of Bradford & Bingley and NRAM

FILE PHOTO: A branch of Bradford and Bingley is seen in Birmingham, central England on September 28, 2008. REUTERS/Stephen Hird

(Reuters) - The British government on Friday completed the 5 billion pound ($6.96 billion) final sale of mortgage lenders Bradford & Bingley and NRAM Limited, which were nationalised in the aftermath of the 2008 financial crisis.

The sale was approved following a competitive auction process and will see B&B and NRAM, formerly Northern Rock, sold to a consortium comprising Davidson Kempner Capital Management and Citibank. (bit.ly/3qX7llh)

($1 = 0.7184 pounds)

Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli

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