IFG no longer in takeover talks

Dublin-based pensions adviser and administration company IFG Group is no longer in exclusive takeover talks with private equity firm Bregal Capital, it announced today.In June IFG said it had received two approaches in relation to possible offers for the company and had invited both parties to undertake due diligence. IFG said last month that following the conclusion of that process it had entered into an exclusivity agreement with Bregal."In view of the current dislocation in global markets, both IFG and Bregal have agreed to discontinue discussions," IFG said today."Accordingly, the board can confirm that the Company is not in talks with any party regarding a possible takeover."At 1.35pm, shares in IFG were down by 35p at 115p.---RG