Irish Government Launches Process to Sell Stake in Bank of Ireland
By Jaime Llinares Taboada
The Irish government said Wednesday that it intends to sell part
of the state's 13.9% shareholding in Bank of Ireland Group PLC.
Finance Minister Paschal Donohoe said the sale will occur over
the next six months and the trading plan will be managed by
Citigroup Global Markets Ltd.
This marks the start of a phased exit, Mr. Donohoe said. "A
trading plan enables the State to sell down its shares in a low
cost carefully controlled manner while avoiding the need to try to
time our disposals with market conditions," he said.
"State investment in Bank of Ireland over a decade ago should
never have been needed, but we will always be grateful for the
support we received," the bank's Chief Executive Francesca McDonagh
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(END) Dow Jones Newswires
June 23, 2021 02:44 ET (06:44 GMT)
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