(Reuters) -British financial services firm NewDay Group has attracted takeover interest for parts or all of its business, including a bid from a Bain Capital-led consortium, Sky News reported on Thursday. The John Lewis credit card provider has also drawn interest from asset management firm Pimco and private equity firm KKR , according to the […]
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UK’s NewDay Group draws takeover interest from major bidders, Sky News reports
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(Reuters) -British financial services firm NewDay Group has attracted takeover interest for parts or all of its business, including a bid from a Bain Capital-led consortium, Sky News reported on Thursday.
The John Lewis credit card provider has also drawn interest from asset management firm Pimco and private equity firm KKR , according to the report, which estimated the firm could be worth around 1.7 billion pounds ($2.26 billion).
According to the report, Pimco is specifically eyeing a deal to acquire NewDay’s consumer loan book rather than the entire company.
Pimco and KKR did not immediately respond to Reuters’ requests for comment, while Bain Capital declined to comment.
The news comes just a few months after NewDay bought Argos Financial Services cards portfolio from Britain’s second-largest supermarket group Sainsbury for about 720 million pounds ($957.53 million).
($1 = 0.7520 pounds)
(Reporting by Anandita Mehrotra in Bengaluru and Anousha Sakoui in London; Editing by Leroy Leo)