Specialist packager Chaseblue Loans has bought the minority shareholding from Chase UK Corporation for an undisclosed amount.
Adrian Whittall, chairman of Chaseblue Loans, which packages commercial, bridging and secured finance loans, says: “We have been discussing this transaction with the directors of Chase UK for sometime. This arose from Chase UK’s desire to focus on its core business.
“The Chaseblue board and its major investor in turn wished to gain full control of the shareholding thus providing freedom and flexibility to operate in the market.
“We concluded the transaction in March 2008 and are now looking forward to further developing Chaseblue with our network of brokers in these interesting and challenging times.
“We would like to pay tribute and thanks to the directors of Chase UK for their assistance in the successful launch of Chaseblue Loans.”