Irish Gov't Begins Selling Crisis-Era Bank Of Ireland Stake

Law360, London (June 23, 2021, 4:48 PM BST) -- The Irish government said on Wednesday that it will start to sell off its holding in Bank of Ireland in a move to unwind the state bailouts of major lenders from the 2008 financial crisis.

Ireland's finance minister, Paschal Donohoe, said the government plans to sell its 13.9% stake in the lender with the help of Citigroup, the multinational financial services group that has won the advisory role.

"Today's announcement marks the start of a phased exit from the state's remaining investment in Bank of Ireland," Donohoe said. "A trading plan enables the state to sell down its shares in a...

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