Wilbur Ross to Sell Remaining 5.5% Stake in Bank of Ireland

Wilbur Ross, the U.S. billionaire investor in struggling industries, is selling his remaining shares in Bank of Ireland Plc after almost tripling his investment in less than three years.

The 1.8 billion shares are being sold for 26.5 euro cents each, seven percent less than yesterday’s closing price of 28.4 cents, according to a person with knowledge of the transaction who asked not to be identified because they weren’t authorized to speak publicly. At that price, the sale of the 5.5 percent stake will raise about 477 million euros ($648.7 million).