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Clive Cowdery has bucked the gloomy mood in the financial sector by announcing plans to raise up to ?1bn for his Resolution vehicle via an initial public offering. The company would then spend up to ?5bn on financial services firms across Europe with a view to restructuring them. The floatation is expected before the end of the year.
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With strong institutional backing likely and plenty of distressed opportunities in the European financial services sector, Resolution will be one to watch in 2009.
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-IC-2.1.2b-prod - 09/03/2010 18:13:54 - ben.wheeler
