Royal Bank of Scotland's development capital unit said it put up $841.6 million for the management buyout of Ocwen United Kingdom from its parent, Ocwen Financial Corp.

It said the deal includes the acquisition of a $1.2 billion mortgage portfolio and the U.S. business. Additionally, Royal Bank Development Capital said it had invested $125 million of equity and would own 49% of Ocwen U.K.

It added that Barclays Capital, Greenwich Natwest, and Morgan Stanley would provide Ocwen U.K. with debt facilities totaling $433 million.

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