DC Advisory advises Bank of Ireland Group plc on the sale of J&E Davy Holdings Ltd to management and staff
Background
- Bank of Ireland Group is a one of the largest diversified financial services groups in Ireland
- Established in 1783 by Royal Charter, Bank of Ireland is organized into four trading segments; Retail Ireland, Wealth and Insurance, Retail UK and Corporate and Commercial
- J&E Davy was founded in 1926 and manages more than €16bn of client assets and employs over 800 people. J&E Davy has offices in Dublin, Cork, Galway, Belfast and London, providing wealth management and capital market advisory services to its clients
- Bank of Ireland purchased its stake in Davy in 1988
Process
- DC Advisory was engaged by Bank of Ireland to act as their financial advisor in relation to the disposal of their 90.444% shareholding in J&E Shareholding Ltd
- DC Advisory ran a targeted process and worked closely with the Bank of Ireland management team to provide strategic advice and close support in transaction negotiation and process management
Outcome
- On 1st November 2006, Bank of Ireland sold its 90.444% equity stake in J&E Davy Holdings Limited in a €316.55m MBO
- This transaction further showcases DC Advisory’s deep expertise in the Financial Services sector
“Davy has proven to be an excellent investment for Bank of Ireland since the Group first acquired a shareholding in 1988 and I wish its management team well in the future development of the business.”
Date
Sectors
- Financial Services
Deal type
- M&A Advisory
Deal locations
Deal team
Chairman & CEO, DC Advisory Ireland
Actions
Disclaimer
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