Bank of Ireland has confirmed it has agreed terms to purchase Davy Stockbrokers' wealth management and capital markets divisions, for €440m. Subject to regulatory approvals the DGFM Transaction is expected to close in advance of the Bank of Ireland Transaction. The deal is conditional on approval by the Central Bank of Ireland and the Competition and Consumer Protection Commission. Bank of Ireland will pay 25 per cent two years after completion subject to Davy shareholders meeting a number of agreed criteria. "Accordingly, we see a continuation of the Davy brand and structure, under the Bank of Ireland umbrella."

Source: Irish Examiner July 22, 2021 08:42 UTC