Business Irish

Sunday 24 February 2019

Planned sale of Goodbody Stockbrokers to Chinese consortium abandoned

Stock photo: Reuters
Stock photo: Reuters
Donal O'Donovan

Donal O'Donovan

A planned sale of Goodbody Stockbrokers to a Chinese consortium has been abandoned.

In a statement, Goodbody and its majority owner Fexco said they’ve jointly taken the decision not to proceed with the proposed acquisition of Goodbody by a consortium of Chinese strategic investors.

“Both companies have concluded that the rationale for the original transaction is no longer applicable due to a proposed change in the make-up of the shareholder structure made by the acquiring group,” they said.  

Goodbody’s own balance sheet was strengthened following the sale last year of the Irish Stock Exchange, where it was among the shareholders.

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