The world's largest building society has issued a new update
Nationwide has said its customers will "experience benefits" as it undergoes a huge change worth billions of pounds.
Confirmation of the deal comes after the two companies reached a preliminary agreement earlier this month, with Nationwide having spent the past two weeks looking through Virgin Money's books before making the firm offer.READ MORE: 'I spent £40,000 on my wedding and what happened ruined my life' The planned takeover will spell the end of the Virgin Money brand, with Nationwide planning to rebrand the Virgin Money business as Nationwide within six years, although it will keep the two brands initially.
Its chief executive Debbie Crosbie said: "This acquisition strengthens Nationwide and means we can offer more value and broader services for our current and future members. More people will experience the benefits of mutual ownership and the customer-focused approach of a building society."
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