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British mortgage lender Northern Rock, which was at the heart of the 2008 banking crisis, has been bought by entrepreneur Richard Branson for 747 million pounds (1.17 billion dollars), the&#xA;government announced 17 November 2011. The takeover of the Newcastle-based bank, which was taken into public ownership in February 2008, is expected to be completed by the end of this year. Virgin Money is a banking network set up by Branson, who also owns Virgin Airlines. Branson failed in a previous bid to buy the bank following its collapse. EPA/SHAMSHAHRIN SHAMSUDINsingle half-lengthSir Richard BransonAA+ZAF+NAM+KEN+AUT+BEL+CYP+DNK+FIN+FRA+DEU+GRC+ITA+LUX+MLT+NLD+NOR+PRT+ESP+SWE+CHE+PSP+BGR+HRV+CZE+HUN+LVA+LTU+TUN+POL+ROM+RUS+SVK+SVN+TUR+UKR+SCG+ISL+EST+BIH+MKD+PSP+GBR+IRL+SAU+ARE+EGY+MAR+ISR+KWT+BHR+LBN+QAT+SYR+JOR+OMN+USA+CAN+SGP+THA+AUS+KOR+BRN+MYS+HKG+CHN+IDN+IND+JPN+PHL+TWN+VNM+epa03006338 (FILE) A file photo dated 27 September 2010 showing Virgin Group founder British Sir Richard Branson during the 'Dawn of the New Decade: Alternative Investment in Asia' forum in Kuala Lumpur, Malaysia. British mortgage lender Northern Rock, which was at the heart of the 2008 banking crisis, has been bought by entrepreneur Richard Branson for 747 million pounds (1.17 billion dollars), the&#xA;government announced 17 November 2011. The takeover of the Newcastle-based bank, which was taken into public ownership in February 2008, is expected to be completed by the end of this year. Virgin Money is a banking network set up by Branson, who also owns Virgin Airlines. Branson failed in a previous bid to buy the bank following its collapse. EPA/SHAMSHAHRIN SHAMSUDIN3436691imL03006338.jpgAepa08553528enuuid:26D4733017A94A18 9D0EC2B0068D3F59xmp.did:20182439C5CB4E25 8981FC20A10F1EBFxmp.did:20182439C5CB4E25 8981FC20A10F1EBF2020-07-18T15:44:46+02:002020-07-18T15:44:46+02:00FotoWare fotostation2020-07-18T15:50:44+02:002020-07-18T15:50:44+02:002020-07-18T15:50:45+02:002020-07-18T15:50:45+02:00NO10224400000501177562020-07-18135040+0200214214882130000000/10000030000000/1000002FalseTrue397323850008553528FILE MALAYSIA RICHARD BRANSONSHAMSHAHRIN SHAMSUDINepa08553528 (FILE) A file photo dated 27 September 2010 showing Virgin Group founder British Sir Richard Branson during the 'Dawn of the New Decade: Alternative Investment in Asia' forum in Kuala Lumpur, Malaysia. Sir Richard Branson turns 70 on 18 July 2020. EPA/SHAMSHAHRIN SHAMSUDIN *** Local Caption *** 50117756