UK's NewDay Group draws takeover interest from bidders, Sky News reports

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April 24, 2025 12:04 PM EDT

A reporter raises his hand to ask a question during a news conference by Bain Capital LP Managing Director Yuji Sugimoto (not in the picture) in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon

(Reuters) -British financial services firm NewDay Group has attracted takeover interest for parts or all of its business, including a bid from a Bain Capital-led consortium, Sky News reported on Thursday.

The company has also drawn interest from asset management firm Pimco and private equity firm KKR, according to the report, which estimated NewDay could be worth around 1.7 billion pounds ($2.26 billion).

Pimco is specifically eyeing a deal to acquire NewDay's consumer loan book rather than the entire company, Sky News reported.

Pimco and KKR did not immediately respond to Reuters requests for comment. Cinven and CVC Capital Partners, the private equity firms which own NewDay, and Bain Capital declined to comment.

The news comes a few months after NewDay bought Argos Financial Services cards portfolio from Britain's second-largest supermarket group Sainsbury for about 720 million pounds.

($1 = 0.7514 pounds)

(Reporting by Anandita Mehrotra in Bengaluru and Andres Gonzales, Charlie Conchie and Anousha Sakoui in London; Editing by Leroy Leo and Shounak Dasgupta)


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