The EBS is on track to have new owners by the end of next month after four interested parties lodged offers for the mutual society before a bid deadline today.
The four bidders are understood to be US private equity firm JC Flowers, London-based private equity house Doughty Hanson which owns TV3, Irish Life and Permanent and Dublin-based investment firm Cardinal Asset Management, led by businessman Nigel McDermott and Nick Corcoran, which
The deadline had been extended by two weeks after certain bidders requested more time to examine specific parts of the business. Analysts expect that two bidders will be selected fromt he four before the preferred bidder is chosen.
The EBS is being advised by a team from NCB Stockbrokers and accountancy firm KPMG. The National Treasury Management Agency is also closely involved with EBS in the process, and has dedicated staff working on the bid.
