M and A
Brewin Dolphin Reportedly Eyes Investec's Irish Wealth Business
Such a move would give the acquirer a foothold in a European Union member state after Brexit.
UK-listed Brewin
Dolphin is in talks to buy Investec’s wealth management
business in Ireland, Reuters reported. Such a move would
give the acquirer a foothold in a European Union member state
after Brexit.
Today, the firm issued the following statement: "Brewin Dolphin
notes the recent press speculation regarding its interest in
acquiring Investec's wealth management business in the Republic
of Ireland. Brewin Dolphin is in exclusive discussions with
Investec in relation to this possible
acquisition. Discussions are ongoing and there can be no
certainty that a transaction will be agreed."
The Sunday Times reported that Brewin Dolphin is
competing with Allied Irish Banks to buy Investec’s private
client stockbroking business, with a price of up to €60 million
($68 million).
The ST also said that London-based Rathbones is also
interested in the business. AIB and Rathbones declined to
comment, while Investec did not respond to a request for comment,
Reuters added.
