Wealth manager WH Ireland announced it will sell its Isle of Man business as it looks to streamline its offering and become profitable.
Ravenscroft – an investment services group based in Guernsey, Jersey and the UK – will pay WH Ireland up to £662,500 via cash and a deferred consideration for the business, which manages just over £350 million
Ravenscroft will also repay WH Ireland for intra-group loans it provided the IOM subsidiary, worth £1.1 million.
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