Irish recovery process continues with €1.84B sale of bank stake


The Irish government is exiting Bank of Ireland, which it bailed out during the financial crisis, by selling €1.3B of preferred shares to investors and another €537M to the bank.

BOI is offering €580M worth of stock to help finance its purchase of the government's holding.

Overall, the government expects to have recovered €5.9B from its rescue of BOI, representing a handy profit on the €4.8B that was provided.

"This transaction will build further confidence in Ireland’s recovery and will strengthen Ireland's return to normal market funding," said Finance Minister Michael Noonan.

ETF: EIRL

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Comments (2)
  • al roman
    , contributor
    Comments (18276) | Send Message
     
    Government & Banks,Government & Religion should be at arms length and the Courts keep them a few apartments down the way.
    BOI should do well now.
    4 Dec 2013, 06:01 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11313) | Send Message
     
    (IRE) investors should note this.
    4 Dec 2013, 08:48 AM Reply Like
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