Partner Provides Support On Taxation

Irwin Mitchell’s London corporate department has advised financial services company, IFG Group plc (“IFG”) on its agreement for the sale of its International Division to AnaCap Financial Partners II LP for £70 million.*

The sale follows IFG’s strategic review of its business, which had gross assets of £184 million (as at 31st December 2011) and concluded that further investment to fund expansion or outright sale of the Division were the optimal choices for the Group. The sale provides options for the Group including debt repayment, shareholder return and strategic investment in the SIPP and advisory business.  Declan Kenny, CEO of the Division remains with the Division following the sale.

Irwin Mitchell’s International network enabled the firm to advise on aspects of the sale in multiple jurisdictions including the BVI, Jersey, Cyprus, Switzerland and The Isle of Man,

The Irwin Mitchell team was led by Andrew Woolf, corporate partner, assisted by Christopher D’Este Hoare and Alex Barnes, partner who advised on the taxation aspects. AnaCap Financial Partners was advised by corporate partner Gideon Sharp of Simmons and Simmons, who was assisted by James Cross.

*This will be paid in full on the completion of the sale, subject to determination of the completion accounts and various regulatory approvals and shareholder consent.