Green light for AIB’s Goodbody deal
The Competition and Consumer Protection Commission (CCPC) has given the go-ahead for AIB to take over stockbroking group Goodbody.
In a statement, the commission said that the proposed deal would not substantially lessen competition in any market for goods or services in the State.
Separate entity
In March, AIB announced that it had agreed to buy Goodbody in a deal worth €138 million. This figure included €82 million for the Goodbody business and €56 million of excess cash on its balance sheet.
Goodbody, which employs 300 people in offices across Ireland and the UK, is involved in wealth management, asset management and investment banking.
AIB chief executive Colin Hunt (pictured) has said that Goodbody will remain as a separately regulated entity with its own brand and board.