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Rollingnews.ie
Repayment
AIB is going to start paying back some of those billions to Ireland
Shareholders will vote today on a number of measures.
SHAREHOLDERS IN AIB will vote today on whether to repay €1.7 billion given to it by the State.
The vote will take place at an extraordinary general meeting (EGM) being held at 10am this morning, where shareholders will meet to discuss a capital reorganisation scheme.
This scheme will include a number of measures that will see over €4 billion returned to the Irish taxpayer over the next year.
The Irish State rescued AIB in 2008 with a €21 billion bailout. The bank is now 99.8% State-owned.
The bank is currently valued at €18.8 billion, and the EGM today will pave the way for an initial public offering (IPO) next year, which could see the State privatising 25% of the bank.
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