IFG has announced it is to buy the Jersey-based Langtry Trust in a deal worth around €16.9 million.
The financial group had flagged the acquisition to the market last week.
Langtry Trust has around 670 clients, and it holds a range of property and investment portfolios.
An initial consideration of £3.4 million (€5.1 million) will be paid, with a further consideration of up to £7.4 million payable dependent on turnover in the years ended September 30th, 2007 and 2008.
All of the consideration will be paid in cash.
IFG said it has completed the placing of new shares and sale of treasury shares announced last week at an average price of €1.92 per share, raising €7.94 million.
The deal will require shareholder approval and clearance by the Jersey Financial Services Authority.