Nationwide Building Society confirmed it has completed its controversial takeover of Virgin Money. Britain's largest building society informed members by email today that it has now completed the acquisition of Virgin Money. Nationwide announced it had agreed a £2.9billion deal to take over Virgin Money in March.

The two brands will continue to exist on UK high streets for between four and six years, before Virgin Money is fully absorbed by Nationwide and customers are switched over

It continued: "I can also confirm that Virgin Money branches are now included in our Branch Promise. This means that everywhere there is a Nationwide or Virgin Money branch, we pr

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The takeover officially came into effect on October 1, following Nationwide's agreement to acquire its London-listed competitor back in March. The building society sealed the deal with an offer of 220p per share for Virgin Money, which included a 2p-per-share dividend payout.

Nationwide has completed its £2.9bn takeover of Virgin Money, bringing together two of Britain’s largest banking groups.

The takeover of Virgin Money by Nationwide has been completed, the leading building society has announced.

Nationwide completes takeover of Virgin Money in major bank tie-up - Virgin Money’s shares have been cancelled from trading on the London Stock Exchange following the acquisition.