State makes further preparations for AIB sell-off

State makes further preparations for AIB sell-off

The State is making further preparations for a sell-off of part of the taxpayer's holding in Allied Irish Banks.

The Department of Finance has commenced a competition to appoint investment banks to act as global co-ordinators in any potential future initial public offering of AIB shares.

They will be appointed early in the new year for a period of up to 18 months.

This means the Government could trigger a sale of some of its shareholding in 2017 or the first part of 2018, though it is not obliged to do so in that timeframe.

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