Consulting firm Ernst & Young has been hired to find a buyer for Metro Bank Holdings Plc this weekend, according to people familiar with the matter.
The adviser has approached several lenders with the aim of agreeing a deal before the markets open on Monday, the people said, asking not to be identified discussing private matters.
JPMorgan Chase & Co. was among the lenders approached but has decided not to proceed, one of the people said.
A spokesperson for Metro Bank declined to comment. EY and JPMorgan didn’t immediately respond to requests for comment.
At the same time discussions are continuing with bondholders about an equity injection by existing investors that would be carried out alongside a debt restructuring. Other options being considered include asset sales.
Read More: Metro Bank in Talks for Debt Restructuring, Equity Injection
Author: Jan-Henrik Förster and Katherine Griffiths
