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Greensill Starts U.K. Insolvency Process as Talks Continue

  • Firm in process of filing as it still aims for sale to Athene
  • Greensill in talks to sell ‘large parts’ of its business
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Greensill Capital is in the process of filing for insolvency in the U.K. after a swift crisis of confidence deprived it of major buyers of the loans it made and regulators stepped in to oversee its German bank.

The firm is planning to go ahead with an insolvency filing as it pursues a sale of the company, according to people familiar with the matter, who asked not to be identified because the deliberations are private. The firm is continuing talks with the combination of Athene Holding Ltd. and Apollo Global Management Inc. to sell its operating business, the people said.