Home Business News LV= in exclusive takeover discussions with Bain Capital

LV= in exclusive takeover discussions with Bain Capital

by LLB Finance Reporter
2nd Oct 20 11:53 am

LV= has confirmed on Frida that they are in exclusive talks regarding a potential transaction involving Bain Capital.

In a statement, LV= said, “LV=’s Board’s focus is on maximising long-term value for its members and ensuring the business continues to be operated in their best interests, following the disposal of the general insurance business.

“Discussions between LV= and Bain Capital are on-going and there can be no certainty that any transaction will be agreed, nor any certainty as to the terms on which any such transaction might proceed.”

This week it was reported that Royal London was in talks to acquire LV=. Sky News reported that while discussions were not exclusive, the two mutuals were in “advanced stage” talks.

LV= said in a statement released on Monday, “Discussions are on-going and there can be no certainty that the discussions will result in any transaction being agreed or with whom.”

Laura McOscar, head of equity release at Royal London said, “Equity release is becoming an increasingly important source of retirement funding, as more people aged over 55 look to unlock some of the money tied up in their home. To complement our existing range of retirement offerings and improve access to later life lending advice, we are delighted to launch our Later Life Lending Service with Responsible Life.

“We chose Responsible Life as our partner because their customer centric approach aligns with our values. We’re confident that consumers will receive high quality advice on retirement mortgages, allowing them to make an informed choice on the option that is best suited to their individual needs.”

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