April 14, 2019 / 10:53 AM / a year ago

UK's Brewin Dolphin in talks to buy Investec's Irish wealth management business

April 14 (Reuters) - British wealth manager Brewin Dolphin Holdings Plc said on Sunday it is in talks to acquire Investec Plc’s wealth management business in Ireland.

The company said that the discussions were ongoing and there was no certainty that they would lead to a transaction.

The company’s comments came after Britain’s Sunday Times newspaper reported that Brewin Dolphin is competing with Allied Irish Banks (AIB) to buy Investec’s private client stockbroking business, with a price tag of up to 60 million euros ($68 million).

London-based Rathbones is another company interested in acquiring the business, the Sunday Times said.

Both AIB and Rathbones did not immediately respond to Reuters’ requests for comment. ($1 = 0.8849 euros) (Reporting by Akshay Balan in Bengaluru Editing by Susan Fenton)

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