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Saunderson House sale abandoned

The sale of IFA Saunderson House has been pulled by parent company IFG Group.

IFG Group revealed in February Saunderson House had received a number of offers and that it was considering if selling the business would give shareholders better value.

Since then, it has received several more offers.

However, in a statement this morning, IFG says those offers open the business up to risk that could create lower value for shareholders than if IFG continued to own Saunderson House.

James Hay clear it will not be affected by Saunderson House sale

The statement says: “As a result, the board has concluded that it is not in the best interests of shareholders of IFG to proceed with the sale process.”

IFG, which also owns James Hay, says it is now focused on developing the Saunderson House business and set aside a £1.5m retention incentive in 2018 and 2019 for employees.

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