IFG reaches agreement on Langtry buy-out
27/11/2006 - 07:52:46Financial services group IFG has agreed to buy Jersey-based Langtry Trust for more than €5m.
Langtry Trust, founded in 1975, is a financial services company providing trust and company establishment and management services to predominantly private clients, mainly from the United Kingdom and continental Europe.
IFG said today that a further payment of up to €11m may be payable in the deal, determined by reference to the turnover of Langtry Trust for the years ending September 30, 2007 and September 30, 2008. The aggregate maximum consideration payable is €16.07m.
