JC Flowers still interested in buying Irish Life
JC Flowers, shortlisted last year in the shelved sale of Irish Life Group, is still interested in buying the life insurer, an executive at the US investment firm said.
“We remain interested to invest in Ireland and have followed Irish Life’s progress over the last year or so,” said Tim Hanford, the managing director of JC Flowers and Co UK.
“If the government were now to re-open the sale process for the company, then we would certainly hope to participate.”
The Government has resumed talks on a possible sale of Irish Life to Canada’s Great-West Lifeco, said two people with knowledge of the matter.
The Government bought the insurer for €1.3 billion in June from debt-laden lender Irish Life and Permanent after the Great-West pulled out of the process.
Great-West, the owner of Putnam Investments, was picked as the top candidate to acquire Irish Life last year.
A joint bid from New York-based JC Flowers and Apollo Global Management LLC and an offer from CVC Capital Partners was also short-listed. - (Bloomberg)