Fexco to sell stockbroking firm to Chinese consortium

Ireland’s oldest stockbroking firm, which is majority owned by Fexco, is to be sold to a Chinese consortium.

Global financial services company, Fexco, which has its headquarters in Killorglin, currently has a 51 per cent stake in Goodbody Stockbrokers.

There are unconfirmed reports that the sale is in the region of 150 million euro.

The transaction, which is subject to regulatory approval, is expected to conclude by the end of the year.

If it progresses, the consortium led by the Zhongze Group will  take 100 per cent ownership of Goodbody.

Goodbody’s staff and management who own the remaining 49% of the company, will also sell their stake.