Nectar's operator to change ownership
There are rumours in the British press that Loyalty Management UK Ltd (LMUK), operator of the Nectar coalition loyalty scheme, is seeking new ownership following an initiative by initial investment partner Warburg Pincus. In short, it's true - but not necessarily as reported.
When The Wise Marketer asked LMUK for any official comment on the reports, the reply was that although the report of a potential change of ownership is definitely true, figures quoted by the Financial Times were their own estimated valuations, and not necessarily those of LMUK or Warburg Pincus.
It was, however, confirmed by LMUK that the initiative to find new ownership was from Warburg Pincus.
Asked about any potential changes that a change of ownership could herald, an authorised spokesperson for LMUK added: "As far as Nectar is concerned, it's business as usual."
Further information about the potential sale of LMUK will be made available when matters are finalised and confirmed.