UK's IPF agrees to $733 million takeover by BasePoint entity

Dec 29 (Reuters) - British lender International Personal Finance said on Monday it has agreed to a 543 million-pound ($732.51 million) takeover by a company associated with BasePoint Capital, finalising terms ahead of a December 31 deadline.

Under the terms of the deal, IPF shareholders will receive 235 pence in cash per share, the same price that U.S.-based specialty finance group, BasePoint, has suggested in September.

The offer represents a near 7% premium to IPF's latest closing share price on Wednesday of 220 pence, which was also what BasePoint had earlier proposed in July.

Several UK companies are being acquired amid relatively cheaper valuations. While IPF shares have risen nearly 70% in value in 2025, they are still trading far below their peak of 683 pence in 2013.

IPF said on Monday that its directors unanimously intend to recommend the deal, citing the opportunity for shareholders to monetize their investment at a fair value and BasePoint's ability to maximize IPF's growth under private ownership.

($1 = 0.7413 pounds)

(Reporting by Nithyashree R B in Bengaluru; Editing by Nivedita Bhattacharjee)