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5th May 2016

UKAR announces completion of £13 billion sale of former Northern Rock mortgages
In November last year UK Asset Resolution Limited (UKAR) agreed to sell £13 billion of former Northern Rock Mortgages to Cerberus Capital Management LP (Cerberus). Today the Government receives the final £520 million from Cerberus as part of the sale completion process. This sale represents value for money for the tax payer and following its completion the government will have exited over 85% of former Northern Rock. download [81,2 KB]

4th May 2016

UKFI statement re: RBS Annual General Meeting (AGM)
UK Financial Investments Limited (UKFI), which manages the government’s stake in the Royal Bank of Scotland (RBS), has lodged votes in favour of all resolutions at the bank’s Annual General Meeting on 4 May 2016. download [79,6 KB]