Virgin Money’s Acquisition by Nationwide Approved

Virgin Money UK PLC Shs Chess Depository (AU:VUK) has released an update.

Virgin Money UK PLC is set to be acquired by Nationwide Building Society in a cash transaction that has been sanctioned by the Court through a scheme of arrangement. The acquisition, approved by Virgin Money’s shareholders, will be effective upon completion on October 1, 2024, after which shares of Virgin Money will be delisted from the London Stock Exchange and the Australian Securities Exchange. This strategic move is expected to align Virgin Money’s financial year-end with Nationwide’s and ensure a robustly capitalized combined entity for future growth.

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