Scandal-hit Davy attracts €105m bid for its global fund management unit

Size of bid for by global financial services provider Waystone for one part of Davy business puts spotlight on Bank of Ireland, which is reportedly prepared to pay up to €500m to acquire all of the company

Davy had put itself up for sale in March just days after the Central Bank slapped it with a €4.1m fine after a multi-year investigation disclosed the broker failed to detect wrongdoing in a 2014 sale of Anglo Irish bonds. File Picture: Niall Carson

Davy Stockbrokers, the country's largest broker that was enveloped in scandal this year, has attracted a €105m bid from global financial services provider Waystone for one part of its business, the Irish Examiner understands.

The size of the bid for Davy global fund management unit is significant and puts a spotlight on Bank of Ireland, which is reportedly prepared to pay up to €500m to acquire all of Davy.