10th Mar 2010 08:15
IFG Group plc
10 March 2010
IFG Group plc ('IFG' or 'the Company')
Acquisition of James Hay Holdings Limited
IFG is pleased to announce it has to-day completed the acquisition of the entire issued share capital of James Hay Holdings Limited and its subsidiary undertakings ('James Hay') from Santander Private Banking UK Limited for a cash consideration of £35 million (€38.635 million) plus an additional adjustable payment for net assets of £3.9 million (€4.305 million).
Mark Bourke, Chief Executive of IFG, said:
"IFG already has a significant presence in the self-administered pensions market through its subsidiary, The IPS Partnership plc. The acquisition of James Hay, with approximately 32,000 SIPPs (Self Invested Personal Pensions) under administration, makes IFG the largest provider in the UK. Our strategic ambition is to be the best and biggest in the sector".
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Enquiries:
IFG Group plc
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Mark Bourke, Chief Executive
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Tel: +353 (1) 275 2800
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Mark Bogard, Chief Executive, IFG UK
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Tel: +44 7881 911 297
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Niamh Hore, Investor Relations Manager
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Tel: +353 (1) 275 2866
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IFG Group plc
IFG House
Booterstown Hall
Booterstown
Co Dublin
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