Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have advised on Virgin Money's acquisition of £1bn of credit card assets from Bank of America subsidiary MBNA.
January 22, 2013 at 10:41 AM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have advised on Virgin Money’s acquisition of £1bn of credit card assets from Bank of America subsidiary MBNA.
Following the deal – the sale price for which has not been disclosed – Virgin Money has launched its own credit card business, with the acquired credit book set to transfer to the company’s own operations in early 2014.
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