Aldermore

South African financial services group Firstrand has placed its UK-based specialist bank, Aldermore, up for sale. The bank, which holds a £17 billion loan book, is attracting strong interest from major UK lenders and private equity giants despite ongoing industry exposure to motor finance regulatory investigations.

Summary of transaction details:

• Value: £1.35 billion (estimated)
• Sector: Fintech
• Advisor: None disclosed
• Key Entities: Firstrand (Seller), Aldermore (Target), Lloyds Banking Group, Nationwide, Investec (Potential Acquirers)
• Location: United Kingdom

Note: Firstrand's decision to exit comes after Aldermore set aside £750 million due to the UK motor finance commission scandal. However, its attractive buy-to-let portfolio (40% of its loan book) and full UK banking license make it a highly valuable asset for buyers looking to scale their mortgage and retail lending operations.