The U.K. Financial Investments (UKFI) is seeking to appoint advisers for the sale of state-owned retail bank, Northern Rock, Financial Times reports. Advisers are expected to review several options for the bank, including a possible stock market flotation.
Goldman Sachs, UBS and Bank of America Merrill Lynch are likely to offer bids for the Gosforth-based lender. Northern Rock, which could attract bids in the region of £1.4 billion, was nationalized in February 2008 after a shortage of funding.
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