Credit, Collections & Insolvency News
The Competition and Markets Authority (CMA) has announced that it is investigating the potential £1.6bn merger between One Savings Bank and Charter Court. The investigation will assess whether the deal could potentially lead to a “substantial lessening of competition” in the mortgage market. The CMA has invited comments on the merger by June 19. In…
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Non-Standard Finance (NSF) has announced that it has withdrawn its £1.3billion takeover bid for Provident Financial. After talks with regulatory authorities, NSF’s offer for Provident would lapse as the regulatory condition would not be satisfied by midnight today, the company said in a statement. NSF said that after discussions with regulatory authorities, in learning that…
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Intrum has announced that has reached an agreement with Piraeus Bank to acquire it’s Recovery Management Services platform; Recovery Banking Unit. The Unit will be hived-down into a separate legal entity, valued at €410m, which will be fully consolidated by Intrum. Intrum will acquire 80 per cent of the shares in the new company corresponding…
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Business advisory firm, Quantuma has completed a merger with Kingsland Business Recovery, which sees the firm open three new offices across the Midlands and Yorkshire As a result of the merger, Quantuma will take on Kingsland’s offices in Bradford, headed by Partner, Rehan Ahmed; and Nottingham and Birmingham, led by Partner Tauseef Rashid, as well…
Read moreKingston Smith LLP, the award-winning top 20 UK accounting and business advisory firm, has joined Moore Stephens International, one of the world’s leading global accounting and advisory networks. Centred in London and with 62 partners and 550 staff, Kingston Smith has built an enviable reputation across multiple sectors for providing trusted advice, commercial expertise and…
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UHY Calvert Smith, Chartered Accountants in York, a member firm of the UHY Hacker Young Group, has formally merged with accountancy firm Hare & Co, also located in York. The merged practice is set to be relocated into one office and will comprise of 34 staff, including six partners. Linda Hare, who founded Hare &…
Read moreMarston Holdings has announced the acquisition of Stockholm-based Parktrade. Marston said in news release that Parktrade is a technology and data business that has two compelling offerings: a technology platform that facilitates easy management and payment of Low Emission Zone charges, congestion charges and free flow road tolls. This platform facilitates multi-currency payments, auto payments…
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Compliant software solutions provider Vision Blue has acquired Cardiff-based fast growth fintech company SamePage Group, a pioneer in fully-digital Loan Origination software platforms, for an undisclosed sum. The acquisition of SamePage by Vision Blue comes after the success of a recent strategic partnership which saw both companies deliver a full lifecycle Loan Origination and Account…
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TransUnion has announced that it has completed the sale of Noddle, the free-for-life credit reporting and monitoring service, to Credit Karma, following approval from the Financial Conduct Authority (FCA). “We are pleased to have completed the sale of Noddle to Credit Karma, further to regulatory approval, and we are confident that the business will continue…
Read moreVidealert, a supplier of intelligent traffic management and enforcement solutions to local authorities, has been acquired by enforcement services group Marston Holdings. The announcement follows successful deployments for a number of Marston’s strategic clients, including the London Borough of Barnet, the Royal Borough of Kingston upon Thames and the City of Westminster, where Videalert has…
Read moreBegbies Traynor Group has acquired insolvency practitioner KRE Corporate Recovery (North East) Limited, based in Newcastle upon Tyne, further strengthening the AIM listed group’s presence in the North East. The deal sees 100 per cent of the equity of KRE (North East) Limited acquired by the group which has grown to offer a wide range…
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Following on from the successful acquisition of the SIRS Europe in 2018, Carnoustie Resources has announced the acquisition of a second company. CLS Associates (UK) has been acquired after completing successful negotiations over the last 6 months. CLS was formed in 2006, is based in Kent and provides a range of Investigation services to clients…
Read morePayment specialist FIS Global and Worldpay, a global leader in eCommerce and payments, has announced that they have entered into a definitive merger agreement. In a media statement. the new group said that this combination greatly expands FIS’ capabilities by enhancing its acquiring and payment offerings and significantly increases Worldpay’s distribution footprint, accelerating its entry…
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