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UK - Warburg Pincus sells LMG for £368m

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Warburg Pincus has sold LMG, the owner and operator of the Nectar programme, to Aeroplan for a total consideration of ТЃ368m. Toronto Stock Exchange-listed Aeroplan is a leading loyalty marketing agency in Canada.

Warburg Pincus invested £25m in LMG in 2002. Since then, LMG, which in addition to Nectar also owns the Air Miles International Trading trademark, has grown from 8 to 200 staff and increased revenues from zero to £200m in 2006. Today, over 50% of UK households have a Nectar card. The Nectar scheme operates out of nearly 6,000 retail outlets including Sainsbury's, Debenhams and BP.
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