NBNK Gives Itself More Time To make Acquisitions

LONDON-- Acquisition vehicle NBNK Investments PLC (NBNK.LN) has given itself longer to make acquisitions after failing to make any over the past two years.

The company, which previously said it will return money to shareholders if it doesn't make an acquisition by January 11, said it is in discussions with target companies and will now wait until April 11 to decide whether it should return shareholders' cash.

NBNK floated on the stock exchange in 2010 tried and establish a customer-focused bank, but discussions to acquire assets from Lloyds Banking Group PLC (LLOY.LN) failed and it has since been looking for other acquisitions.

-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

January 07, 2016 02:44 ET (07:44 GMT)

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