Summary
KENT Reliance Building Society's (KRBS) plans for a tie-up with a private equity firm have raised the prospect of a new "super mutual" in retail banking.
US buyout group JC Flowers and KRBS are expected to unveil details later this week of a groundbreaking deal that will see the private equity giant invest pounds 50m in a joint venture, amid plans for a raft of similar moves.See the full content of this document
Extract
Building Society Set for Private Equity Firm Tie-Up
JC Flowers, which considered a bid for Northern Rock before it was nationalised, is aiming to add more struggling building societies to the new vehicle set up with KRBS....
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