CVC Capital Partners prepares bid for UK's Aldermore, Sky News reports (updated)
UPDATE 1-CVC Capital Partners prepares bid for UK's Aldermore, Sky News reports Adds Aldermore, FirstRand & Metro Bank response in bullet 4
Aug 20 (Reuters) - Private equity firm CVC Capital Partners CVC.AS is preparing a bid for British challenger bank Aldermore, Sky News reported on Thursday, joining a growing field of suitors for the lender owned by South Africa's FirstRand FSRJ.J.
CVC has been laying the groundwork for a potential offer for months and is expected to submit a takeover proposal ahead of a September deadline, according to the report.
FirstRand FSRJ.J said in April it would exit Aldermore after anticipated payouts tied to a UK motor finance mis-selling scandal forced it to raise provisions to £750 million.
Sky News, which earlier named Lloyds Banking Group LLOY.L, Shawbrook SHAW.L and Metro Bank MTRO.L as potential bidders, said Metro Bank was now unlikely to bid.
CVC, Aldermore, FirstRand and Metro Bank declined to comment.
Sky News also said advisers were expected to allow bidders to make separate offers for Aldermore's banking operations and MotoNovo, its motor-finance arm.
(Reporting by Anushka Chourasia in Bengaluru; additional reporting by Krisha Bhatt; Editing by Tasim Zahid and Joyjeet Das)
((Anushka.Chourasia@thomsonreuters.com))
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