Key Takeaways
- • Private equity firm CVC Capital Partners is preparing a bid for UK challenger bank Aldermore, according to Sky News as reported by Reuters on August 20, 2026.
- • CVC is expected to submit a takeover proposal ahead of a September deadline, having laid groundwork for a potential offer for months.
- • FirstRand, which owns Aldermore, said in April it would exit the lender after motor finance mis-selling payouts forced it to raise provisions to £750 million.
- • Sky News previously named Lloyds Banking Group, Shawbrook and Metro Bank as potential bidders; Metro Bank is now reportedly unlikely to bid.
- • Advisers are expected to allow bidders to make separate offers for Aldermore's banking operations and MotoNovo, its motor-finance arm.
Summary
CVC Capital Partners is preparing a bid for Aldermore, the British challenger bank owned by South Africa's FirstRand, Sky News reported on Thursday, according to Reuters. The move adds CVC to a growing field of suitors for the lender.
Sky News reported that CVC has been laying the groundwork for a potential offer for months and is expected to submit a takeover proposal ahead of a September deadline. CVC, Aldermore, FirstRand and Metro Bank declined to comment on the report.
FirstRand said in April that it would exit Aldermore after anticipated payouts tied to the UK motor finance mis-selling scandal forced it to raise provisions to £750 million. The disposal process has since drawn interest from several potential buyers. Sky News earlier named Lloyds Banking Group, Shawbrook and Metro Bank as potential bidders, and later reported that Metro Bank was now unlikely to bid.
According to Sky News, advisers are expected to allow bidders to make separate offers for Aldermore's banking operations and for MotoNovo, its motor-finance arm, which could shape how the sale is structured and valued.
Sky News reported that CVC has been laying the groundwork for a potential offer for months and is expected to submit a takeover proposal ahead of a September deadline. CVC, Aldermore, FirstRand and Metro Bank declined to comment on the report.
FirstRand said in April that it would exit Aldermore after anticipated payouts tied to the UK motor finance mis-selling scandal forced it to raise provisions to £750 million. The disposal process has since drawn interest from several potential buyers. Sky News earlier named Lloyds Banking Group, Shawbrook and Metro Bank as potential bidders, and later reported that Metro Bank was now unlikely to bid.
According to Sky News, advisers are expected to allow bidders to make separate offers for Aldermore's banking operations and for MotoNovo, its motor-finance arm, which could shape how the sale is structured and valued.
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