August takeover of IFG likely

THE takeover saga at IFG is likely to be largely concluded by early August, the financial services group’s management said yesterday.

Last month, a consortium led by IFG’s major shareholder, Fiordland Investments, tabled an expression of interest in the group. This followed an initial approach by Bregal Capital — in April — which was later revised in early May.

At IFG’s annual general meeting, in Dublin, yesterday, chairman Joe Moran told shareholders that both groups had been allowed to conduct due diligence on the group.