Investec to buy majority stake in Irish firm Neontar
Investec, the specialist banking group, is to take a majority stake in Neontar, the Irish corporate finance and wealth manager.
Investec, the specialist banking group, is to take a majority stake in Neontar, the Irish corporate finance and wealth manager.
Investec will pay around €32.35m for the controlling stake, which is being bought from a group of investors including Quinn Financial Services, and plans to extend the offer to all Neontar shareholders, with a view to securing 100% control.
Neontar owns the NCB Group, a corporate finance and wealth and investment company.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Investec says it will pay €4.35m over and above the net asset value of Neontar which is estimated at €28m. There may also be deferred payments to the sellers, dependant on the recovery of certain amounts by NCB. The deal looks likely to be done in cash although Investec says, at "its election", the payment could take the form of shares.
Completion of the deal is expected by the second quarter of 2012.
Investec shares have dropped 22.7% in the last 12 months.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Company directors face new ID checks – how to avoid paying hundreds on verification
Company directors could end up paying hundreds of pounds to comply with new identity checks but it is possible to comply without paying a penny
-
Will petrol prices rise this year?
Petrol has been relatively cheap in the UK so far in 2025, hitting a four-year low in May. But with conflict in the Middle East making the price of oil more volatile, will petrol become more expensive?