A fund backed by Ireland’s sovereign wealth fund is poised to buy about 400 mobile phone masts for 120 million euros ($160 million) from an investor group led by Goodbody Stockbrokers clients, three people with knowledge of the matter said.
Bank of Ireland Plc won a campaign to keep its life assurance unit, after the European Union accepted an alternative plan to exit business and corporate banking in the U.K. mainland with the sale of 4.6 billion euros ($5.9 billion) of loans.
Great-West Lifeco Inc., Canada’s second-largest insurer, named Bill Kyle chief executive officer of Irish Life Group Ltd., which the company is set to take over for 1.3 billion euros ($1.7 billion) within weeks.
JC Flowers & Co LLC, short-listed last year in Ireland’s shelved sale of Irish Life Group Ltd., is still interested in buying the nation’s largest life insurer, an executive at the U.S. investment firm said.
Irish Life & Permanent Plc , the nation’s only government-guaranteed bank to avoid a bailout, is weighing a sale of its profitable life assurance and investment management units, three people with knowledge of the talks said.
Irish Life & Permanent Plc, the country’s largest life assurance and pensions group, may need to raise about 120 million euros ($159 million) of additional capital to reach new regulatory targets, said a person familiar with talks between the company and central bank on the issue.
Irish Life Group Ltd. Chief Executive Officer Kevin Murphy postponed his plans to retire at the end of 2012 as the government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc.