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Allen & Overy advises Virgin Group on Nationwide Building Society's acquisition of Virgin Money

Allen & Overy advises Virgin Group on Nationwide Building Society's acquisition of Virgin Money


In a significant move within the financial sector, Allen & Overy has been engaged to advise Virgin Group as a shareholder, brand licensor, and loyalty program provider in connection with Nationwide Building Society's proposed acquisition of Virgin Money for GBP 2.9 billion

The deal involves intricate arrangements between Virgin and Nationwide, including agreements related to the licensing of the Virgin Money brand and the exploration of a potential partnership for a loyalty program. These details are further outlined in the offer documentation, emphasising the strategic nature of the transaction.

Leading the Allen & Overy team are London corporate partners David Broadley, who serves as co-head of the global corporate practice, along with Jim Ford and Claire Coppel. They are supported by a talented group including senior associate Anthony Bowen and associates Megan McMellon and Helena Marrion.

This collaboration underscores Allen & Overy's expertise in navigating complex corporate transactions, particularly within the financial services industry. The involvement of Virgin Group, a prominent player in the market, highlights the significance of this acquisition for both parties involved.

As the transaction progresses, Allen & Overy's advisory role will be crucial in ensuring a smooth and successful outcome for Virgin Group and Nationwide Building Society. With their extensive experience and strategic guidance, the firm is well-positioned to facilitate the completion of this landmark deal, further shaping the landscape of the financial services sector.