KKR, CVC Said to Bid for TowerBrook-Owned Lender Premium Credit

KKR & Co. Inc. and CVC Capital Partners Plc are among initial bidders for private equity-backed UK lender Premium Credit Ltd., according to people familiar with the matter.

Sixth Street has also been pursuing the business, the people said, asking not to be identified discussing private information. TowerBrook Capital Partners is working with investment bankers at Goldman Sachs Group Inc. to explore the potential sale of Premium Credit, which could fetch more than £1 billion ($1.34 billion), they added.

There’s no certainty a deal will ultimately be reached. Representatives for TowerBrook, KKR, CVC, Sixth Street, Premium Credit and ...