Close Bros buys Irelands Bluestone Motor Finance

Close Brothers on Wednesday said it was buying Bluestone Motor Finance, a provider of motor finance in Ireland for an undisclosed cash sum.

The transaction is expected to complete in the fourth quarter of this year. Bluestone Motor Finance has originated more than €450m since inception in 2014 and had loans under management of €132m at the end of the last year.

"The transaction is aligned with the group's commitment to Ireland as a strategic market and represents an important milestone in our commitment to delivering disciplined growth in our retail business" Close Brother said in a statement.

Reporting by Frank Prenesti for Sharecast.com