Nationwide Building Society (GB:NBS) has released an update.
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Nationwide Building Society has received regulatory approval from the FCA and PRA for its cash acquisition of Virgin Money UK PLC, with the deal set to be completed following a court sanction on 1 October 2024. The acquisition will not immediately impact the capital structure of the combined entity, which will seek to align and simplify their capital structures over time. Muir Mathieson has been appointed as Nationwide’s new CFO, with Chris Rhodes prepping to become CEO of Virgin Money post-acquisition.
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