Latham Advises KKR in Combined Acquisition of NewDay’s Consumer Credit Portfolio and Investment in NewDay’s Operating Group

Latham & Watkins has advised KKR, the global investment firm, on the proposed acquisition of NewDay’s portfolio of consumer credit receivables from CVC and Cinven and related investment in NewDay’s origination and servicing business. NewDay is a leading digital consumer credit business in the UK, providing technology-enabled, highly flexible, and innovative products directly to consumers and via its merchant relationships. The Group’s product offering includes credit cards and digital revolving credit, both incorporating BNPL and instalment finance functionality.

The Latham team was led by London partners Melanie Howard, Patrick Leftley, and Neil Campbell, with associates Jia Yan Ng, Aimee Godfrey, and Catherine Fellows. Advice was also provided on finance matters by associates Anca Moldovan, Naimh Nic Uileagoid, Cuan Mills, and Grechen Nicholls; on tax matters by associates Aaron Bradley, Joshua Atkinson, and Thomas O’Malley; on antitrust matters by London partner Jonathan Parker, with associate James Mathieson; on commercial, IP, and data privacy matters by London partner Christian McDermott, with associates Dal Lim, Ben Leigh, and Oscar Bjartell; and on financial regulatory matters by London counsel Becky Critchley, with associate Jaime Martin.