Credit, Collections & Insolvency News
CYBG have reached an agreement with Virgin Money to acquire the business confirming a £1.7 billion deal. The agreement will create the UK’s sixth-largest bank. Virgin is the largest shareholder in Virgin Money with a stake of ca. 34.8%. The combination of two of the country’s leading challenger banks will create a powerful competitor to…
Read moreCredit insurer, Allianz Group has completed the last steps to become the sole owner of Euler Hermes. Following the completion of the simplified tender offer the legal conditions were met and Allianz has implemented a squeeze-out on the remaining shares of Euler Hermes it did not hold yet, followed by the delisting from Euronext Paris…
Read moreThe Competition and Markets Authority (CMA) has found that the merger of SSE Retail and Npower could lead to higher prices for some billpayers, following its initial investigation. The CMA) has been assessing whether SSE Retail and Npower’s proposal to create a new energy company for domestic retail customers could reduce competition. Its initial Phase 1 investigation…
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American consumer credit reporting agency, TransUnion has announced it has reached an agreed to purchase Callcredit Information Group for £1 billion, ($1.4 billion). TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions in America. International expansion is a key growth strategy for TransUnion which has offices in 33 countries. The company…
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Phoenix Asset Management (PAM), independent asset manager and special servicer focused on the management of secured and unsecured non-performing loans (NPL) and unlikely to pay (UTP) portfolios has announced an investment by funds managed by Pimco – as institutional investors. Following the deal, PAM together with the other founding partners will hold 40% of the…
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Harrington Brooks has announced on its website that it has that its Debt Management Plan (DMP) portfolio has been transferred to Gregory Pennington from HB Financial Solutions Limited (Harrington Brooks). In addition, IVA portfolios have been transferred to Freeman Jones Limited which were managed by One Advice Limited, trading as Harrington Brooks IVA. As part…
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Co-op Energy, part of The Midcounties Co-operative, has made an offer to acquire Flow Energy. If accepted, the proposed deal will see The Midcounties Co-operative, the largest independent co-operative in the UK welcome around 130,000 more customers into Co-op Energy and give more energy users a greater voice in how their energy company operates. Commenting…
Read moreCorporate recovery and business advisory firm Quantuma has announced that it has acquired south coast insolvency practice.Ashtons Business Recovery. The teams will continue to operate through its Ringwood and Weymouth offices, with all of its existing team of seven, as part of Quantuma. David Meany was one of the founder partners of the original practice…
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Experian, the global information services company, has announced that it has agreed to acquire ClearScore. ClearScore is UK consumer organisation that matches individuals to personal financial products, offering free credit reports, scores and personal financial education, both online and through mobile devices. Brian Cassin, Chief Executive Officer of Experian said: “In acquiring ClearScore, we will take…
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Omnichannel contact centre technology specialist, Noble Systems has announced that it has completed the acquisition of FidoTrack, a specialist provider of cloud gamification software and services for call centres. Noble Systems will be re-branding the employee engagement products as Noble® Gamification. Over the coming months, Noble will be releasing “Fast Start” connectors that will allow existing…
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The Board of Holmesdale Building Society today announces it has agreed on on terms to merge with Skipton, the UK’s fourth largest building society. Subject to approval by its members and confirmation by the Prudential Regulation Authority (PRA), the merger is expected to become effective on in October 2018. Full details of the proposed merger…
Read moreCommercial debt recovery specialist Yuill & Kyle has announced that it will become part of the MacRoberts Group. MacRoberts LLP is one of Scotland’s oldest and most established independent commercial law firms. With 42 partners and over 180 staff working in offices in Glasgow, Edinburgh and Dundee, their legal specialisms include banking and finance, construction,…
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RELX Group, the parent company of LexisNexis has announced that it has entered into a definitive agreement to acquire the entire issued share capital of ThreatMetrix, for a consideration of £580 million. ThreatMetrix is a leader in the global risk-based authentication sector, headquartered in San Jose, California and founded in 2005. ThreatMetrix’s technology analyses connections…
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