BoI to get one-off clawback if Davy is sold

The €340million management buyout of Davy Stockbrokers will include a clawback clause that entitles Bank of Ireland to a percentage of the increase in the value of the brokerage if it is floated or sold within five years of the deal.

23rd September, 2006

The €340million management buyout of Davy Stockbrokers will include a clawback clause that entitles Bank of Ireland to a percentage of the increase in the value of the brokerage if it is floated or sold within five years of the deal.

Bank of Ireland wants to have this kind of agreement in place to ensure that it gets a slice of the potential windfall for management in the event that it is sold quickly,...

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