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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.

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