Wilbur Ross AP/Press Association Images

Billionaire Wilbur Ross to sell his stake in Bank of Ireland

The US investor owns 5.54 per cent of the bank’s shares.

US INVESTOR WILBUR Ross is to sell his stake of 1.8 billion shares in Bank of Ireland.

Deutsche Bank said that it is acting as sole bookrunner on the placement, Reuters reports.

Ross’s shares make up 5.54 per cent of the bank’s shares. He bought into the bank in 2011.

Bank of Ireland has not yet released a statement on the matter.

When asked about the news tonight, Minister Joan Burton said that on St Patrick’s Day in New York, Ross “indicated that as an active investor he opens and he closes positions”.

She said that Ross also indicated that he would be interested in other investments in Ireland and he strongly recommended Ireland as a place to invest in.

Read: ‘The shortest bankruptcy in the world’ – IMHO agrees three month debt deal with banks>

Author

Aoife Barry

View 71 comments

Send Tip or Correction

71 Comments

Defamation

Damaging the good reputation of someone, slander, or libel.
Racism or Hate speech

An attack on an individual or group based on religion, race, gender, or beliefs.
Trolling or Off-topic

An attempt to derail the discussion.
Inappropriate language

Profanity, obscenity, vulgarity, or slurs.
Spam

Advertising, phishing, scamming, bots, or repetitive posts.
Other

News in 60 seconds

The Journal supports the work of the Press Council of Ireland and the Office of the Press Ombudsman, and our staff operate within the Code of Practice. You can obtain a copy of the Code, or contact the Council, at https://www.presscouncil.ie, PH: (01) 6489130, Lo-Call 1800 208 080 or email: mailto:info@presscouncil.ie