Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a648180

Arbuthnot subsidiary strikes £3.5m acquisition deal

by Sarah Miloudi on Jan 03, 2013 at 10:09

Arbuthnot subsidiary strikes £3.5m acquisition deal

Arbuthnot's Secure Bank Trust has snapped up alternative lender V12 Group Finance in a £3.5 million deal.

Cardiff-based V12 and its subsidiaries, V12 Retail Finance and V12 Personal Finance, provide retail point of sale loans on an unsecured basis.

Its deal with Arbuthnot's Secure Bank Trust is expected to allow V12 to redeem roughly £7 million of subordinated debt, which is mainly held by venture capitalist Jon Moulton.

It is hoped V12 will expand organically following the acquisition, bolstering retail finance within Secure Bank, which is 70.7% owned by Arbuthnot.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the shares

  • Arbuthnot Banking Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet