PE firms to be considered by Irish government for EBS sale

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)