Irish State Exits AIB, Putting Bank Into Private Ownership
An Allied Irish Banks branch in Dublin.
Photographer: Aidan Crawley/BloombergThe Irish state has disposed of the remainder of its shareholding in AIB Group plc, putting the bank into private ownership.
The Department of Finance launched the final sale by way of an accelerated bookbuild transaction Monday, reducing its stake in the lender to zero. It sold a 2.06% stake in the bank at a price of €6.94 ($8.0278) per share, which will generate around €305.3 million upon settlement, the finance ministry said in a statement.