CVC has teamed up with financial services investor JC Flowers to pursue a potential acquisition of Aldermore, the UK specialist bank owned by South Africa’s FirstRand, according to a report by Reuters citing unnamed people familiar with the matter.
FirstRand is seeking to sell Aldermore after announcing plans to exit the UK business earlier this year. The decision followed a significant increase in provisions related to the UK’s motor finance redress scheme, with FirstRand ultimately setting asi...
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