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Nikko sells Mortgages plc shareholding to Merrill Lynch

Nikko Principal Investments, the majority shareholder and management shareholder of Mortgages plc has sold its shareholding to Merrill Lynch.

Mortgages plc, the specialist non-conforming mortgage lender will retain its name and continue to operate as a wholly-owned subsidiary of Merrill Lynch. The terms of the deal were unavailable.

Nikko acquired a majority shareholding in Mortgages plc in December 2001.

Mortgages plc chief executive officer Trevor Pothecary says: “Today&#39s announcement is great news for Mortgages plc and confirms our position as one of te UK&#39s leading non-conforming mortgage lenders. Today&#39s announcement will have a positive impact on the products and services we are currently marketing.”

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