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B&B in funding move
2 June, 2008
US investor Texas Pacific Group is to buy a 20% stake in Bradford & Bingley for £150 million.
It follows a profits warning by the buy-to-let lender, which announced that profits for the year would be down about £100 million.
The move comes as its chief executive, Stephen Crawshaw, resigned with immediate effect because of “a serious cardiovascular condition”.