Branson buys AMP stake in Virgin Money
(9th December 2003 – Australia) Virgin boss Richard Branson has confirmed that his company is in discussions to acquire AMP’s 50 percent stake in the Virgin Money Group.
Speaking at a press conference for the listing on the Australian Stock Exchange of airline Virgin Blue, Branson said both parties were "pretty close" to a deal.
Virgin Money and AMP have been in partnership for more than eight years and analysts have calculated an appraisal value of AMP’s stake to be in the vicinity of A$208 million.
Branson also said he had a small team on the ground in Australia looking to see whether there were any opportunities for Virgin in the local banking industry.
Virgin Money and AMP have been in partnership for more than eight years and analysts have calculated an appraisal value of AMP’s stake to be in the vicinity of A$208 million.
Branson also said he had a small team on the ground in Australia looking to see whether there were any opportunities for Virgin in the local banking industry.
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