The FCA has written to Gareth Thomas MP in response to his letter of 8 November and Parliamentary Questions of 19 November regarding the proposed sale of Liverpool Victoria Financial Services Limited (LV) to Bain Capital.
Our response provides additional information on the forthcoming member votes, and the appointment and work of the Independent Experts considering different aspects of the proposed transaction.
In light of stakeholder interest in LV’s proposed deal, we have published our response for interested stakeholders.
If members vote in favour of the Scheme of Arrangement, we will be writing to the Court for the Sanction Hearing in late December with our views. We also continue to provide input to the PRA’s consideration of Bain Capital’s change in control application. We will assess the Part VII transfer in 2022 and provide our views to the Court, if members vote in favour of both the deal with Bain Capital and the Scheme of Arrangement, and if the change in control application is approved.