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Barclays spends $2.8bn to bolster its mortgage business


Barclays PLC went further in the competitive UK home loan market with a $2.8 billion deal on Friday to buy specialist lender Kensington Mortgage Company Ltd. Blackstone Inc.. and Sixth Street Partners.

The British bank said it would acquire a loan book of around $2.4 billion and a servicing business for Kensington’s target customer base of self-employed and other people with unconventional credit profiles. .

wsj

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