11 Dec 2014 10:26
Completion of sale of IFG Ireland pension and advisory business
Further to the announcement on 28 August 2014, IFG Group confirms it has completed the sale of its Irish pension and advisory business to Willis Ireland, part of Willis Group Holdings. Regulatory approval has been granted and initial consideration of €11.5 million (£9.1 million) has been received.
A further €2 million (£1.6 million) in contingent deferred consideration is payable following the second anniversary of the sale dependent upon revenue of the new combined business over this period. The sale price will also be subject to a working capital adjustment upon finalisation of the completion accounts.
IFG Group central functions have re-located to new offices at The Oval, Shelbourne Road, Dublin 4, Ireland, which will also serve as the new registered office of IFG Group plc.
IFG Group plc
11 December 2014
Tel: +353 1 632 4800
www.ifggroup.com
ENDS