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Bank of Ireland investors named

A group of investors have committed to buying up to €1.123 billion of the state’s shares in Bank of Ireland.
Jul 27th 2011, 7:14 PM 676 4

THE IDENTITIES OF those who make up the group of investors buying up to €1.123 billion of the state’s shares in Bank of Ireland have been revealed.

RTÉ reports that the investors include WL Ross, Capital Research, Fidelity Investments and Kennedy Wilson. The group is led by Fairfax Financial Holdings.

On Monday the minister for finance Michael Noonan announced that negotiations with a group of investors had concluded.

The deal means that fewer public funds will be invested in Bank of Ireland. According to RTÉ the state’s stake holding in the bank will fall to 15.1 per cent.

The Irish Times reports that 60 per cent of shareholders have taken up their rights to buy shares in Bank of Ireland.

More: BOI investment deal reduces level of state funding for recapitalisation>

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Emer McLysaght

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