Nationwide take over of Virgin Money

Ergates

gary1312 said:

steven141 said:

I personally would like to see the Clydesdale Bank brand brought back in some form.

Same here with Yorkshire Bank, although unlikely as YB, iirc, was eventually only a trading name of Clydesdale even before the VM deal. 

That happened 20 years ago!

steven141

For some reason, Barclays Partner Finance use the Clydesdale name as well. 

Ergates

steven141 said:

For some reason, Barclays Partner Finance use the Clydesdale name as well. 

Other way around.   Clydesdale Financial Services trade as Barclays Partner Finance and are owned by Barclays.  Clydesdale Financial Services has no connection to CYBG/VM and never has had one (other than being started in Glasgow).

MDMD

Ergates said:

steven141 said:

For some reason, Barclays Partner Finance use the Clydesdale name as well. 

Other way around.   Clydesdale Financial Services trade as Barclays Partner Finance and are owned by Barclays.  Clydesdale Financial Services has no connection to CYBG/VM and never has had one (other than being started in Glasgow).

The business used to be owned by a business called Clydesdale Electrical Stores, who sold it to Next, who in turn sold it to Barclays 

https://www.heraldscotland.com/news/12147967.next-sells-clydesdale-financial/

https://en.wikipedia.org/wiki/Clydesdale_(retailer)

steven141

Thanks for the responses. I had no idea that it wasn’t the same company as Clydesdale Bank. I’ve learnt something new today. 

WillPS

Old news, but I just spotted it. The CMA has unconditionally cleared the takeover, as expected:

https://www.gov.uk/cma-cases/nationwide-building-society-slash-virgin-money-merger-inquiry
https://uk.virginmoney.com/nationwide-and-virginmoney/
https://www.nationwide.co.uk/news-and-stories/virgin-money-cma-update/

I thought the Q4 target for the transaction to complete was a bit ambitious, but I can't see what might stop it now. 

WillPS

Another update snuck under the radar earlier this month - https://www.nationwide.co.uk/news-and-stories/virgin-money-update-sept-2024/

The transaction is now due to complete on October 1st.

friolento

WillPS said:

Another update snuck under the radar earlier this month - https://www.nationwide.co.uk/news-and-stories/virgin-money-update-sept-2024/

The transaction is now due to complete on October 1st.

Snuck in under the radar by publishing it to the world at large on a website which has been used for years by Nationwide for publishing information about Nationwide

WillPS

friolento said:

WillPS said:

Another update snuck under the radar earlier this month - https://www.nationwide.co.uk/news-and-stories/virgin-money-update-sept-2024/

The transaction is now due to complete on October 1st.

Snuck in under the radar by publishing it to the world at large on a website which has been used for years by Nationwide for publishing information about Nationwide

Under my radar I mean it's also on the Virgin Mobile website.

I suppose I was too dependent on the nay-sayers to pass on news about the transaction...

friolento

The deal is completed. Should be interesting to see what Nationwide will do over the next few years with the hotch potch of the Virgin systems, and how Branches and products get rationalised 

https://www.nationwide.co.uk/news-and-stories/virgin-money-acquisition