Brewin Dolphin confirms exclusive talks for Investec’s Irish wealth unit
Move comes a year after AIB pulled out of talks to buy Irish unit
Brewin Dolphin confirmed on Monday that it is involved in exclusive talks to buy Investec’s Irish wealth management unit.
UK investment company Brewin Dolphin confirmed on Monday that it is involved in exclusive talks to buy Investec’s Irish wealth management unit.
“Brewin Dolphin notes the recent press speculation regarding its interest in acquiring Investec’s wealth management business in the Republic of Ireland,” the London-listed company said in a stock market statement. “Brewin Dolphin is in exclusive discussions with Investec in relation to this possible acquisition.”
The development comes a year after AIB pulled out of exclusive talks to buy the entire Irish unit of Investec, which was founded in South Africa but is headquartered in London. It emerged earlier this year that the wealth management part of the business had fielded fresh takeover interest, including from AIB.
Brewin Dolphin acquired Tilman Asset Management in Ireland in 2011 in a deal that was worth up to €36 million.