AIB plans sale of €1.1bn M&T stake

AIB plans to sell off its €1.13 billion 22.64% holding in M&T Bank in the US to raise capital, it emerged yesterday.

The company estimates that its investments in M&T and in Poland’s Bank Zachodni would realise close to €2bn in cash profit if sold, but stressed that they see Poland as a long term investment.

However, no timing to the sale of AIB’s M&T stake has emerged.