BC Partners Is Said to Line Up Banks for Shawbrook Sale, IPO
(Bloomberg) -- BC Partners is lining up Bank of America Corp. and Morgan Stanley to advise it on exit options for Shawbrook, according to people familiar with the matter.
The private equity firm is weighing a potential sale or initial public offering of Shawbrook, the people said, asking not to be identified discussing confidential information.
BC Partners and Pollen Street Capital led a consortium that acquired Shawbrook in 2017 in a deal valued at 861 million pounds ($1.2 billion). An IPO of the business could represent the first major listing of a U.K. bank in London since Metro Bank Plc went public in 2016.
Deliberations are ongoing and no final decisions have been taken, according to the people. Representatives for BC Partners, Morgan Stanley and Pollen Street declined to comment, while a spokesperson for Bank of America didn’t immediately provide comment.
Shawbrook was founded in 2011 as a specialist U.K. savings and lending bank. It offers personal loans to cover everything from home improvement to weddings and also provides business and property financing.
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