The publication also stated that currently IRG is in the process of selling away its assets in order to become a listed shell company.
Post-sale, two of the advisors of IRG will transfer to Forsyth Barr, while clients also will be encouraged to join Forsyth Barr.
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Though no price has been disclosed so far, TheBusinessDesk.com quoted managing director Brent King saying that the basis of the sale is "an initial deposit with on-going payments based on performance".
Additionally, IRG will continue to operate the residual of IRG Equity, its MoneyOnline unit and its media products, using its remaining three advisors.
GA Sego, IRG’s major shareholder, has agreed to advance $750,000 to IRG as a bridging loan so as to enable financial stability for IRG during the sell-down process, it was reported.
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