9 Finance Monthly. The Mon t h l y Round -Up British bank Barclays has reached a deal with approximately $2.8 billion (£2.3 billion) to buy specialist lender Kensington Mortgage Company as it pushes forward its influence in the UK housing market. The deal represents one of the bank’s largest recent transactions. Over the past few months, house prices in the UK have continued to soar, with the average price hitting £281,000 in April 2022. This figure is £31,000 higher than the same month a year before. Barclays said the final price would depend on the size of Kensington’s mortgage portfolio when the deal completes. Barclays estimates this sum will comprise around £2 billion worth of home loans. The deal is expected to be completed later this year or early next year. “The transaction reinforces our commitment to the UK residential mortBarclays Agrees $2.8 Billion Deal to Buy London Mortgage Lender Walgreens Boots Alliance (WBA) has confirmed it will retain ownership of British health and beauty retailer Boots after an extensive bidding process for the business. WBA’s move marks the conclusion of a review Market Turmoil Causes Walgreens to Scrap £5 Billion Boots Sale that commenced in January and saw the British retailer valued at £5 billion. WBA said that the sale of Boots attracted significant interest, though global markets have suffered substantially since it launched the sale. Bidders including billionaire businessmen Mohsin Issa and Zuber Issa are understood to have missed out on acquiring Boots, which is the largest pharmacy in the UK. “As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company,” WBA said. Rosalind Brewer, CEO of WBA, said: “We have now completed a thorough review of Boots and No7 Beauty Company, with the outcome reflecting rapidly evolving and challenging financial market conditions beyond our control. It is an exciting time for these businesses, which are uniquely positioned to continue to capture future opportunities presented by the growing healthcare and beauty markets. “The board and I remain confident that Boots and No7 Beauty Company hold strong fundamental value, and longer-term, we will stay open to all opportunities to maximise shareholder value for these businesses and across our company.” gage market and presents an exciting opportunity to broaden our product range and capabilities,” commented Matt Hammerstein, CEO of Barclays Bank UK.
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