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WestLB should today (Friday) finalise the sale of Boxclever, the stricken TV rentals company that spelt doom for the bank's now disbanded principal finance team.
The bank is expected to sell the company, including the group's servicer Endeva that it placed into administration in September 2003, to a consortium comprising Cerberus and Fortress Investment Group.
The sale will mark the end of a drawn out process that began in 2000 when the principal finance team refinanced Boxclever, created by the merger of Radio Rentals and the UK consumer rental business of Granada Media.
WestLB then securitised the company in 2002 in the Home Technology Receivables Finance securitisation, which was...