City Of London
Barclays to Buy Mortgage Lender Kensington for £2.3 Billion
- Blackstone and Sixth Street own Maidenhead-based Kensington
- UK housing market is key business for British lenders
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Barclays Plc has agreed to buy Kensington Mortgage Company Ltd., expanding the reach of its offering in Britain’s housing market.
The lender’s UK unit will pay about £2.3 billion ($2.8 billion) for the specialist mortgage lender that is owned by Blackstone Inc. and Sixth Street, according to a statement Friday.