Bregal Capital in Talks to Buy IFG Group

Bregal Capital is in exclusive talks to acquire Irish financial services company IFG Group in a deal that could be valued at 231 million euro ($333.4 million), Reuters reported. IFG Group has agreed to work exclusively with Bregal for up to six weeks.

(Reuters) – Irish financial services company IFG Group said on Wednesday it had entered into exclusive talks with private equity firm Bregal Capital over a possible 231 million euro ($333.4 million) takeover of IFG.

IFG said Bregal Capital had proposed making a cash offer of 1.80 euros-per-IFG share along with a dividend.

Bregal’s proposal is subject to additional due diligence and conclusion of banking facilities, IFG said.

During this due diligence period, IFG has agreed to work exclusively with Bregal for a period of up to six weeks expiring on Oct. 10. ($1 = 0.693 Euros) (Reporting by Sudip Kar-Gupta; Editing by Erica Billingham)