CVC Enters Aldermore Takeover Auction as Offers Due in September
Private equity firm CVC Capital Partners is preparing bids for Aldermore, the South African challenger bank being sold after a motor finance mis-selling scandal. Offers are expected by a September deadline alongside other investors and banks. FirstRand estimates about £750m in FCA-linked compensation, facing a legal challenge, and bidders may be offered separate deals for Aldermore’s banking arm and MotoNovo.