Bluestone Group to sell its Irish motor finance business, Bluestone Motor Finance Ireland, to Close Brothers in an all-cash transaction by Q4 2023.
Facts
- Bluestone Motor Finance Ireland (BMFI) sale to Close Brothers to be completed by Q4 2023.
- Bluestone ends its nine-year ownership of the motor finance and lending business.
- Bluestone previously sold its UK mortgage business, Bluestone Mortgages, to Shawbrook Group in March.
- Close Brothers plans to expand its presence in the Irish market through BMFI acquisition.
- Bluestone intends to build a new relationship with Close Brothers via its fintech arm, Fignum.
- Fignum offers cloud-based loan origination, servicing, and receivables management solutions.
- Bluestone retains ownership of its credit services business, Bluestone Consumer Finance, which is not up for sale.
