Stock pictureGoodbody’s planned €155m sale to the Bank of China has fallen at the final hurdle because of Covid-19 disruption, the stockbroker announced today. This time, Goodbody picked Bank of China over more straightforward offers from Davy and Great-West Lifeco citing a higher cash offer from the Chinese. Once the Central Bank of Ireland in March approved Bank of China’s bid, the path appeared clear for the stockbroker’s takeover by the summer. They stood to gain nearly half of the sales proceeds from the Bank of China sale paid out in two stages: half once the deal closed, the rest in three years’ time. Last year it recouped €23m from Goodbody in a dividend from the stockbroker's proceeds from the sale of the Irish Stock Exchange.

Source: Irish Independent July 10, 2020 14:22 UTC