Cardinal Asset Management, backed by Carlyle Group and U.S. investor Wilbur Ross, is likely to be selected by the Irish government as one of the final two bidders for state-run building society EBS, according to Reuters. Also in the running are bancassurer Irish Life & Permanent, and private equity groups Doughty Hanson and JC Flowers. The decision will be announced on Friday.
(Reuters) – The Irish government will choose the final two bidders for state-run building society EBS on Friday, a source close to the process said.
Bancassurer Irish Life & Permanent and three private equity groups — Dublin-based Cardinal Asset Management, Doughty Hanson, and JC Flowers — have been holding talks with EBS about a deal.
Sources told Reuters last month Irish Life & Permanent and Cardinal Asset Management, backed by Carlyle Group and U.S. investor Wilbur Ross, would likely be selected as the final two bidders. (Reporting by Carmel Crimmins; Editing by Dan Lalor)