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UK Asset Resolution £13B mortgage portfolio sale to Cerberus in final stage

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UK Asset Resolution £13B mortgage portfolio sale to Cerberus in final stage

UK Asset ResolutionLtd. said the sale of a £13 billion asset portfolio to affiliates ofU.S. private equity firm CerberusCapital Management LP is in the final stage, with the legal titlesof the mortgages and loans included in the sale already transferred.

The company said July 18 that it changed the name of to NRAM Ltd.,while NRAM Plc wasrenamed Landmark Mortgages Ltd.