IFG Group Clears $111M Sale Of Division To AnaCap

Law360, New York (March 29, 2012, 3:27 PM EDT) -- IFG Group's board of directors has approved the £70 million ($111.4 million) sale of the company's international division to AnaCap Financial Partners II LP, IFG announced Thursday.

The proposed deal, which shareholders can vote to approve at a special June 27 meeting, would transfer ownership of the UK-based financial services company's global unit — which covers trustee and corporate services in Jersey, Cyprus, Switzerland and Isle of Man — to AnaCap, a private equity firm with financial interests across Europe.

In addition to shareholder support, the...
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