The proposed deal involves a consortium of five investors including AIG Financial Products investment banks, Hong Kong-based investment group First Eastern Investment, WL Ross and Co and Toscafund Asset Management, which is headed by Mathewson investment banks, who led the RBS takeover of NatWest in 2000, and who earlier this week surfaced as new chairman of Wood Mackenzie investment banks, the Edinburgh energy consultants. The Scottish investment bank Quayle Munro is also advising on the Virgin move investment banks, sending its shares up 5 per cent yesterday investment banks.
The cash investment into Northern Rock is likely to total at least ï¿¡350 million for Virgin to acquire a 30 per cent controlling stake in the lender investment banks, although a spokesman for Virgin said it had not yet been discussed what proportion of the business it would buy. However, Edinburgh analyst Bryan Johnston, investment banks of Bell Lawrie White, investment banks said he thought it was unlikely Virgin would make a successful bid for Northern Rock, which was particularly hard hit by the global credit crunch because it borrows an unusually large proportion of the money it lends to homebuyers from other investment banks.
Investment Banks October 20th, 2007
