Dublin-listed financial services company IFG Group has received approval from the Finacial Services Authority in the UK and the Jersey Financial Services Commission for its acquisition of James Hay Holdings from Santander Private Banking UK.
The €38.5 million deal is expected to be completed by the end of next week at the latest.
The company has raised €50 million million to fund the acquisition through a share placing.
The new shares will represent 17.5 per cent of its enlarged share capital
IFG will become the largest provider of self-invested personal pensions in Britain as a result of the deal, which was announced in December.
