News Column

'Two buyers' for Investec asset

August 19, 2014

LONDON: Private equity firms the Blackstone Group and TPG Capital Management were close to buying a subprime mortgage lender owned by Investec, Britain'sSky News reported.

Sky said the sale of Kensington had not yet been finalised, but a deal could be announced this week. Investec, which bought Kensington in a 283 million (R5 billion) deal in 2007, could not immediately be reached for comment.

Cape Argus

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Source: Cape Argus (South Africa)

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