AIB sale of US bank by month end
The sale of the asset – probably to Spanish banking group Santander, which has already agreed to pay just over €3bn for AIB’s Polish interests – would leave the bank with a target of around €3.5bn to raise in a rights issue, later in the year, as it bids to meet its end-of-December €7.4bn group fundraising target.
Bloxham Stockbrokers said yesterday that it met AIB management on Tuesday, after which it formed the conclusion that “the sale of an asset by the end of September” is likely.
