Tue, 23 Mar 2010 | DIVISION SALE
US business lender GMAC Commercial Finance is disposing of its UK loan book as part of preparations to exit the country by the end of this year.
The US financier attracted media attention in 2008 when it, along with other lenders, withdrew its funding from Woolworths, leading to its highly publicised failure.
GMAC has already offloaded most of its UK business loans book, once worth around £250 million, and it has also quit most of its regional bases.
In preparation for closure of its British business, the American finance group is also to relocate to a smaller office from its present headquarters in Brighton.
GMAC, formerly part of the US car group General Motors, offers loans of up to £300 million to medium-sized businesses. It has also been a significant lender to Focus DIY and fashion house Jaeger.
The group's UK residential mortgage subsidiary GMAC RFC has recently ceased to provide new mortgages, and is believed to be seeking a buyer for its remaining mortgage book in the UK.
It has already sold off a substantial portion of its mortgages to other well known lenders including Bradford & Bingley.
Opportunity to acquire an established mixed dental practice in Tyne and Wear, efficiently led by associates.
LEASEHOLD
Established for over 40 years with a turnover in excess of £500,000, the business enjoys limited competition locally. The sale includes the business assets and the lease of the premises will be assigned to the new owner.
Major landmark store, 100+ years established, occupying valuable trading position within this mid-Devon town, centrally positioned on Crediton high street, opposite Costa Coffee, close Tesco Express, with free restricted stay car parking immediately...
FREEHOLD
|
22
|
|
Aug
|
Animalcare acquires new research programme for horses and dogs | BUSINESS SALE
York-based Animalcare Group plc has expanded its pipeline of...
|
22
|
|
Aug
|
Coastal Dorset development site with planning permission comes to market | COMMERCIAL PROPERTY
A prime coastal development opportunity has been launched to...
|
22
|
|
Aug
|
UK Government takes control of Speciality Steel after insolvency | ADMINISTRATION
Speciality Steel UK (SSUK) has been taken over by the UK gov...
|
22
|
|
Aug
|
UK Government takes control of Speciality Steel after insolvency | ADMINISTRATION
Speciality Steel UK (SSUK) has been taken over by the UK gov...
|
22
|
|
Aug
|
Coastal Dorset development site with planning permission comes to market | COMMERCIAL PROPERTY
A prime coastal development opportunity has been launched to...
|
22
|
|
Aug
|
Animalcare acquires new research programme for horses and dogs | BUSINESS SALE
York-based Animalcare Group plc has expanded its pipeline of...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.