|
Almeida Capital is pleased to be a premier sponsor of AltAssets
|
FREE newsletter RSS
INTELLIGENCE
RECRUITMENT
KNOWLEDGE BANK
EVENTS
SECTOR ANALYSIS
HEDGE FUNDS
|
Click here for printer friendly page
Warburg Pincus to sell stake in Loyalty Management Group03/12/2007. Source: AltAssets. 
 Warburg Pincus, Loyalty Management Group chairman Sir Keith Mills and the company's management team have agreed to sell UK consumer loyalty company LMG to Canadian loyalty marketing company Aeroplan Income Fund for a total consideration of £368m, including working capital adjustments of £18m.
Following the transaction, Nectar and Aeroplan will continue to be operated separately, according to a statement.
LMG is a loyalty marketing and customer-driven insight and analysis company that owns and operates the Nectar loyalty programme in the UK. LMG's international arm plans to launch loyalty programmes worldwide.
Warburg Pincus invested $38.7m for a 35 per cent stake in LMG as a start-up in July 2002.
Joseph Schull, a Warburg Pincus managing director and LMG director, said, 'By backing and engaging as an active partner to a talented entrepreneurial management team, we helped to build the UK's leading loyalty marketing business that today serves half of the UK's households and many of the country's leading retailers. LMG now has an excellent foundation for future expansion in both the UK and international markets.'
Warburg Pincus has approximately $23bn of assets under management.
Copyright © 2007 AltAssets
|
 
|
|
|
