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Private equity firm set to buy James Hay parent for £205m

James Hay parent company IFG Group is in excusive talks to be acquired by private equity firm Bregal Capital for £205m.

The firm announced in May that in was in talks with two firms, both believed to be private equity vehicles, about a possible acquisition.

The bid values the firm at a 35 per cent premium compared to the average closing price of £1.18 a share for the three months to April 20.

Bregal Capital has also offered a non-cash alternative for IFG shareholders to re-invest their offer proceeds in the bid vehicle. 



Banks pay out £215m in PPI redress

The total amount of compensation paid out during the first half of the year to customers who were missold payment protection insurance has reached £215m, figures from the FSA reveal. The regulator has published data today which shows that 16 firms have paid a total of £215m in PPI redress between January and June this […]

‘Tax evasion days over’ as UK signs deal with Swiss’

The Government has signed an agreement with Switzerland that will see UK taxpayers with funds in Swiss bank accounts pay 48 per cent tax on investment income, 40 per cent on dividends and 27 per cent on gains. Under the terms of the agreement, existing funds held by UK taxpayers in Switzerland will be subject […]


Succession finance director quits as firm relocates to Plymouth

Succession finance director Alan Wardrop has left the business due to the firm’s relocation from London to Plymouth as it restructures its management team. Richard Rhodes has taken on the role of commercial director. He was previously chief operating officer of Succession’s major shareholder Spearpoint. Rhodes will head up the firm’s financial functions and its […]

Mortgage verification scheme launched to tackle fraud

HM Revenue & Customs, the Council of Mortgage Lenders and the Building Societies Association have teamed up to create a new tool to combat mortgage application fraud. The mortgage verification scheme, which was announced in the March budget, is due to officially launched on September 1, following a successful pilot scheme. Use of the scheme […]


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