Quinn Group agrees disposal of its NCB shareholding
27.01.2012
Quinn Group has confirmed that it has successfully agreed the disposal of its shareholding in NCB.
Earlier today it was revealed that NCB Stockbrokers is to be bought by South African banking and asset management group Investec for a reported €32m.
The Quinn Group board said that Investec plc and Investec Holdings Ireland Ltd entered into a share purchase agreement to acquire the majority interest in Neontar Ltd, which owns the finance and investment house NCB Group.
The disposal is expected to complete in the second quarter following receipt of regulatory approvals.
“The disposal of our shareholding in NCB reflects our continuing drive to refocus our business and our core manufacturing activities,” said Paul O’Brien, Quinn Group CEO.
“I would like to take the opportunity to wish them well for the future and continued success with the business.”
Karina Corbett