Cofra AG

Canaccord Genuity advised COFRA Holding AG on the disposal of its UK specialist mortgage lending operation, London Mortgage Company, to Lehman Brothers. The transaction was completed with Lehman Brothers following a wide-ranging international auction process. The transaction value has not been disclosed.

COFRA holds a variety of retail, financial services and other interests.

London Mortgage Company is a UK specialist mortgage lender providing sub-prime and near-prime first charge mortgages and secured (second charge) loans distributed through mortgage packagers and brokers. As at December 2005 it had a loan book of approximately £1.3bn, funded through "warehouse" bank facilities and securitisations.

Canaccord Genuity acted as sole financial advisor to COFRA.