Deal: Take-private of IG Group
Size: £143 million ($229 million)
Advisor: Lexicon Partners
Date: September 5 2003
It’s not often that the state of disrepair of a castle in southeast England triggers an innovative finance deal. But that’s what happened this year when high-profile businessman Stuart Wheeler decided to sell his stake in the UK’s leading spread-betting business.
In January, Wheeler announced that he wanted to sell his 23.7% stake in IG Group, the company he founded in the 1970s, to raise money to renovate his castle at Chilham in Kent.
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