Bank of Ireland to buy Davy in €605m deal
The deal is the culmination of a sales process the stockbroker started after it was hit with a record Central Bank fine
Bank of Ireland has announced a deal to buy Davy, the embattled stockbroking firm, for an overall sum of €605 million.
The deal is made up of a price for the business of €440 million, 75 per cent of which will be paid up front and the rest two years later, subject to certain conditions.
On top of that, the bank will pay €40 million some time after 2025, depending on the business hitting certain performance targets.
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