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Report: Blackstone and TPG teaming to bid for U.K. mortgage lender

  • Kensington is currently owned by Anglo-South African banking group Investec, which bought it in 2007 for £283M just ahead of the housing crisis.
  • Blackstone (BX +3.3%) and TPG are said to be competing with Lonestar and Goldman Sachs, among others, for the business, reports Sky News.
  • The deadline for bids is the end of the month.
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