Better Home & Finance Announces Escrow for Sale of Birmingham Bank
Better Home & Finance (BETR) announced that a buyer group has escrowed £10 million as part of the ongoing sale process for its subsidiary, Birmingham Bank. The company aims to sell 100% ownership at a valuation multiple of 0.95 times tangible net asset value (NAV). Birmingham Bank holds approximately £56 million in tangible assets. The transaction marks significant progress toward finalizing the deal and reflects investor confidence in the bank's underlying value. Better Home & Finance has not disclosed further details about potential buyers or a timeline for completion, but the escrow deposit signals active interest from interested parties.
Tickers: $BETR
Topics: bank sale escrow tangible NAV