Last checked at 
Feb 26 (Reuters) - The British government on Friday
completed the 5 billion pound ($6.96 billion) sale of the final
chunk of its 'bad bank' comprising failed lenders Bradford &
Bingley and Northern Rock, which were nationalised because of
the 2007-09 financial crisis.
UK Asset Resolution (UKAR), owned by the Treasury, was set
up to manage more than 100 billion pounds of assets from the two
collapsed lenders.
UKAR's last remaining assets will be sold to a consortium of
Davidson Kempner Capital Management and Citibank.
The British government separately owns a 62% stake in retail
lender NatWest Group, previously named Royal Bank of
Scotland. The government has struggled to reduce its holding
since the bank's crisis-era bailout.
"We are continuing to protect consumers while recovering
significant amounts of the taxpayer money used to ensure
financial stability during the financial crisis," said Treasury
minister John Glen.
UKAR will remain in government ownership but have no
employees, with remaining activity and residual liabilities run
by consultancy PwC.
($1 = 0.7184 pounds)
(Reporting by Yadarisa Shabong in Bengaluru and Iain Withers in
London
Editing by Shinjini Ganguli and David Goodman
)
