Virgin Money's takeover by Nationwide building society is completed

The takeover of Virgin Money by Nationwide has been completed, the leading building society has announced.

After getting court approval at the end of last week, the £2.9bn deal has now been made effective, with the entire issued and to be issued share capital of Virgin Money now owned by Nationwide. The deal will bring together Britain’s fifth and sixth largest retail lenders, creating a combined group with around 24.5m customers, more than 25,000 staff and nearly 700 branches.

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