Bain Seeks To Reassure Customers Over £530M LV Takeover

By Martin Croucher (November 15, 2021, 2:18 PM GMT) -- U.S. private equity giant Bain Capital Credit on Monday said it would invest in Liverpool Victoria and help it grow, amid concern in British Parliament over its proposed £530 million takeover of the mutual insurer.

Bain said it would pour "vital capital" into LV, improving its IT systems and customer services, which would benefit the company's customers.

The deal to buy 178-year-old LV has been surrounded by controversy because the company will lose its status as a mutual insurer. Approximately 1.16 million members are due to vote on Dec. 10 on whether to approve the takeover.

"Our proposed investment maintains an...

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