LCM Partners to acquire the consumer vehicle finance business from Secure Trust Bank for £459m.

LCM Partners, an European alternative investment fund manager, agreed to acquire the consumer vehicle finance business from Secure Trust Bank, a specialist lender, for £459m. "This transaction is a significant step forward in delivering on our strategic priorities, focusing capital and energy on Core business areas and improving our returns for shareholders. I look forward to sharing updated strategic priorities in due course, including clear plans on how we will deploy the capital released by this transaction to deliver long-term value for shareholders," Ian Corfield, Secure Trust Bank CEO.