Wells Fargo (WFC -3.6%) has reportedly won an auction for Bank of Ireland's (IRE -0.8%) $1.4B...

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

Wells Fargo (WFC -3.6%) has reportedly won an auction for Bank of Ireland's (IRE -0.8%) $1.4B U.S. commercial-real-estate loan portfolio, with Wells paying almost face value. The sale is part of BOI's efforts to cut its loan portfolio by about €30B ($43B) by the end of 2013.