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Varde Partners snaps up SAV credit
Värde Partners has agreed a £472m deal to buy specialist credit card provider SAV Credit Limited from its private equity shareholders. The acquisition follows a partnership between Varde Partners and SAV Credit which began in March 2010, with Varde Partners extending a junior debt facility to the firm in April this year for its aqua and marbles branded credit card portfolios.
It also marks the exit of majority shareholders Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners after nine years backing the...Read more on this story---> CLICK HERE
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