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London & Country eyes £300m sale or float

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London & Country Mortgages is eyeing a sale or flotation that could value the business at up to £300m.

The firm has appointed advisers Fenchurch to handle the process.

An L&C spokesman would not comment on the value of any sale or float, but the process could see London & Country valued at up to £300m, according to the Telegraph.

A spokesman for the business says: “L&C confirms that, following receipt of certain expressions of interest, it has appointed Fenchurch to advise on a range of strategic options for the business including a potential sale or initial public offering.

“There is no certainty that this review will lead to a transaction and L&C will also consider the benefits of continued growth of the business under its current ownership.”

In 2015 the firm posted profits before tax of £8.5m on revenues of £35.2m.

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