Irish corporate finance company was the subject of a management buyout from Bank of Ireland in 2017
IBI, led by chief executive Ted Webb and chairman Tom Godfrey, is in advanced talks to sell a majority stake in itself to DC Advisory. Photograph: Naoise Culhane
IBI Corporate Finance, one of the top deal advisers in the State, is in advanced talks to sell a majority stake in itself to DC Advisory, an investment bank owned by Japan’s Daiwa Securities Group, according to sources. The deal is expected to value the Irish business, led by chairman and joint chief executive Tom Godfrey and joint CEO Tedd Webb, significantly higher than the €10 million price at which it was acquired from Bank of Ireland in 2017 in management buyout.
Sources said that negotiations envisage IBI’s entire team, including senior management, staying in place should a partnership deal be agreed.IBI, which was set up in 1966 as a joint venture between Bank of Ireland and merchant banks Morgan Grenfell and Schroders, is routinely named by specialist mergers and acquisitions publications as one of Ireland’s top deal advisers. Its focus is on working with the sellers of assets.
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