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Nationwide Take Over Of Virgin Money

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Nationwide chief Debbie Crosbie, who used to work at Virgin Money, said on Thursday that “the large majority of people seem to be very content with the direction we’ve taken”. In terms of being a member of a mutual building society, note that the statement issued today says “ Virgin Money customers would not automatically become members of Nationwide „. In fact (as predicted by some here IIRC) it looks like Nationwide may be planning to operate a ‚bank‘ subsidiary as a separate entity.

Nationwide is to complete its £2.9bn takeover of rival Virgin Money next month after the deal was given the green light by the UK’s financial regulators. Nationwide announced it has completed its takeover of Virgin Money today in an email to members.

Nationwide completes takeover of Virgin Money

Nationwide agrees terms for £2.9bn takeover of Virgin Money

Nationwide has completed its £2.9bn takeover of Virgin Money in the UK’s biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders. Nationwide’s Virgin Money takeover shows how incredibly difficult it is for billion takeover of smaller mid-tier banks to take on the big four lenders Hopes were that the big four banks – NatWest, Barclays, HSBC UK and Britain’s biggest building society, led by Debbie Crosbie (pictured), is making the £600m payout following its takeover of Virgin Money.

Nationwide’s £2.9bn takeover of Virgin Money UK has Isa reforms could raise home been cleared by Britain’s competition watchdog.

Take-over of Clydesdale by one of the High-Street banks probably wouldn’t get regulatory approval but Nationwide might be a good match, and with the current Nationwide CEO being ex-Clydesdale, at least they’d get a sympathetic hearing!

  • An update on our offer to buy Virgin Money
  • Nationwide agrees to buy Virgin Money for £2.9bn
  • Nationwide buyout of Virgin Money and how it affects you
  • Progress on our offer to buy Virgin Money

Nationwide has completed its takeover of Virgin Money, meaning the bank’s savers and borrowers could become members of the building society in future. But the move will spell the end of the Virgin Money brand, with Nationwide planning to rebrand the Virgin Money business as Nationwide within six years, although it will keep the two brands initially.

The £50 payments linked to the Virgin Money acquisition will be made next month from 9 April, Nationwide said. Nationwide intends that the combined group would retain the „Virgin Money“ brand in the medium term, but has agreed with Virgin Enterprises that it would cease mid sized doing so over a six-year period from completion of the Potential Acquisition, by which point Nationwide would intend to have re-branded the Virgin Money business Nationwide take over of Virgin Money « 1 18 19 20 21 22 23 24 31 » Comments 26left Posts: 65 Forumite

Nationwide’s takeover of Virgin Money cleared by CMA

Nationwide’s £2.9billion acquisition of Virgin Money is set to finalise next month, following approval from UK financial regulators. According to a statement released to the stock market by the

Nationwide Building Society is set to take over smaller rival Virgin Money after the pair agreed on a deal worth around £2.9billion.

Citi downgrades Virgin Money to 'neutral' after Nationwide offer - Vox ...

Scheme of Arrangement Becomes Effective The boards of Virgin Money and Nationwide are pleased to announce that, following the delivery of a copy of the Court Order to the Registrar of Companies today, the scheme of arrangement between Virgin Money and its shareholders under Part 26 of the Companies Act (the „Scheme“) to implement the

Last year Nationwide was able to make its first Fairer Share Payment to eligible members. We expect that a financially stronger combined Group would make future payments more likely, but these would only together two be to eligible Nationwide members and not to Nationwide’s £2.9bn takeover of Virgin Money set to be completed in early October The takeover will create an enlarged business with around 24.5m customers

Nationwide, the UK’s largest building society, recorded a £2.3bn gain from its purchase last month of listed lender Virgin Money, as it posted a drop in first-half profits. In annual results

Nationwide Building Society’s £2.9billion takeover of Virgin Money has been approved by the country’s regulatory bodies. In a statement, the banks announced the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have given their requisite consent to proposed cash acquisition which would see Nationwide’s

Virgin Money UK PLC – Newcastle upon Tyne-based consumer and mortgage lender – Nationwide Building Society gets final UK regulatory consent for its takeover of Virgin Money. We confirmed our offer for Virgin Money in March, and Virgin Money’s Board recommended this offer to the Virgin Money shareholders. is to complete its Virgin Money’s shareholders accepted our offer in May, and the Competition and Markets Authority has now unconditionally cleared the acquisition following its Phase 1 investigation. Nationwide has bagged a £2.3bn gain from its acquisition of Virgin Money, setting up a windfall for its members.

Nationwide has completed its £2.9 billion takeover of Virgin Money, bringing together two of Britain’s largest banking groups.Virgin Money’s shares have been cancelled from trading on the London Stock Exchange following the acquisition.The purchase of the bank by the building society will pave the way for the creation of a combined group with around 24.5 million Nationwide announces today that it has agreed the terms of a recommended cash offer this offer with Virgin Money’s Board for the Virgin Money business. Nationwide believes that the acquisition will create a financially stronger building society with returns that will deliver greater value to its members, including savings and lending rates that are, on average, better than the Virgin Money paid Branson £17mn for use of the Virgin brand last year. Contractually, Nationwide will have to continue to do this for another four years.

Nationwide’s £2.9bn takeover of Virgin Money, which will create the country’s second-largest mortgage lender, has been cleared by the Competition and Markets Authority. Nationwide will pay £100 and Markets to over four million members after reporting £2.3bn in profits, boosted by its Virgin Money takeover and a mortgage boom. CEO Debbie Crosbie warns Isa reforms could raise home loan costs.

What does Nationwide’s move to take over Virgin Money mean for UK banking? Nationwide Building Society has surprised everyone with a proposed £2.9 billion takeover of smaller rival Virgin Money

Nationwide members look set for a payout bonanza after the building society revealed a £2.3billion windfall from its takeover of Virgin Money. The last six months saw Nationwide complete its acquisition of Virgin Money, which has boosted its overall value even higher and allows it to include business banking in its range of products. Nationwide posted a surge in annual earnings on Thursday, boosted by its £2.9bn takeover of Virgin Money.

Nationwide Building Society has revealed a £2Nationwide’s chief executive Debbie Crosbie emphasised that the value gained from the takeover would be channelled directly into customer benefits, marking a significant shift Sir Richard Branson to get £400m in Nationwide takeover of Virgin Money Acquisition to create second-largest mortgage and savings business in Britain This feature is available for registered users.

Nationwide has completed its £2.9 billion takeover of Virgin Money, bringing together two of Britain’s everyone with a proposed 2 largest banking groups. Virgin Money’s shares have been cancelled from trading on the