M&G plc, the international savings and investments business, announces it has acquired a 41% stake in Finance Ireland, Ireland's largest non-bank lender. The investment is on behalf of the £143bn Prudential With Profits Fund and external client funds managed by M&G Investments.
Finance Ireland is the most diversified lender in the market, providing residential mortgages, commercial property, car finance, leasing, SME financing and lending to the agricultural sector. In 2021, the company's lending figure passed €1bn (£842m) for the first time and the new €50m (£42m) equity raised will underpin future lending growth and expansion.
