London & Country plans £300m sale or IPO
London & Country Mortgages has revealed plans for a sale or stock market float with a valuation of up to £300m.
"L&C confirms that... it has appointed Fenchurch to advise on a range of strategic options for the business including a potential sale or initial public offering."
According to The Telegraph, L&C has appointed advisers to run a twin-track sales process and the firm will be offered to banks, rival brokers, comparison websites and independent financial advisers.
A spokesperson for London & Country said: “L&C confirms that, following receipt of certain expressions of interest, it has appointed Fenchurch to advise on a range of strategic options for the business including a potential sale or initial public offering.
“There is no certainty that this review will lead to a transaction and L&C will also consider the benefits of continued growth of the business under its current ownership.”
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