Kensington Group, the specialist lender for customers with patchy credit histories, has put itself up for sale in what could be a £500m deal, says the Scotsman .
The company, led by chief executive John Maltby, told the markets the firm is "continuing its review of the group considering the best options to maximise shareholder value. There can be no certainty that it will lead to an offer for the company". Kensington is understood to have hired investment bankers at NM Rothschild who have already pitched the bank to US financial institutions including Bank of America, Wachovia and General Electric, reports the paper. Barely three weeks ago, Maltby warned fierce competition from a batch of new arrivals in its market had increased pressure on margin...
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