Lone Star / Start Mortgages / Nua Mortgages [2014] IECompA m14025 (13 October 2014)
Transaction details
The proposed acquisition by Lone Star Fund IX of the issued share capital of Start Mortgages Holding Limited under a share purchase agreement, which included an associated loan book and a loan book (with associated security) which related to Nua Mortgages Limited (together the Target Business) has been cleared by the Competition Authority.
| Economic sector | Media merger |
| Financial services | No |
Notification date: Monday, October 13, 2014
| Parties Involved | Business activities |
| Lone Star Fund IX | Lone Star Fund IX(U.S.) L.P. and Lone Star Fund IX (Bermuda), L.P., and Lone Star Fund IX Parallel (Bermuda), L.P. are private equity funds established to make investments, including inter alia, in financial and other investment assets. |
| Start Mortgages Holding Limited | Start Mortgages Holding Limited is a company incorporated in Ireland, a subsidiary of which is Start Mortgages Limited, which was previously an Irish residential mortgage provider. Start Mortgages Limited is currently closed to new business but remains involved in loan servicing. |
| Nua Mortgages Limited | Nua Mortgages Limited is the legal owner of mortgage assets and Investec Bank plc. |
| Case Officer Assigned | Contact Details |
| Joseph Walser | Tel: 01-804-5402, e-mail: jw@tca.ie |
The deadline for any third parties who wish to make submissions regarding the competition aspects of this merger is:
| Phase 1 |
| Monday, October 27, 2014 |
|
Current status |
Completed |
Cleared (Phase 1) |
Decision date: Thursday, October 30, 2014
