Life is sweet for Great-West

The Canadian insurance giant is getting its hands on Irish Life at a very reasonable price, writes Jon Ihle.

24th February, 2013
Kevin Murphy of Irish Life, Minister for Finance Michael Noonan and Allen Loney of Great-West Lifeco at the announcement of the sale of Irish Life to Great-West Lifeco. Photo: Photocall

When Great-West Lifeco and the Irish government walked away from the negotiating table after failing to agree terms for the sale of Irish Life in November 2011, there was a hope - but no guarantee - that the parties might come together again in the future, under more favourable circumstances.

The Canadians had come a long way in a bidding process that lasted several months, but were not willing to take the final step and pay...

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