Paragon has confirmed it is in the early stages of considering a possible takeover of Titlestone.
A statement released this morning (8 May) by the banking group said no agreement has been reached yet but a further update will be published in due course.
Titlestone is a residential development finance lender and the acquisition is in relation to the purchase of loan books and bolt-on businesses.
This represents a core part of Paragon's growth and diversification strategy.
The statement read: "Paragon Banking Group notes the press speculation in relation to a possible acquisition of Titlestone, the residential development finance lender.
"The purchase of loan books and bolt-on businesses represents a core part of Paragon's growth and diversification strategy.
"Paragon confirms that it is in the early stages of considering a possible acquisition of Titlestone. There is no certainty of an agreement being reached nor as to the terms of such agreement. A further update will be provided as appropriate."
aamina.zafar@ft.com
