BoI shareholder backing for €1.12bn investment cuts state holding to 15.1%

BANK of Ireland (BoI) shareholders have unanimously approved a €1.12 billion investment in the bank by a number of private investors, which reduces the state’s share holding to 15.1%.

Earlier this summer, it was announced that a number of international investment firms — WL Ross, Fairfax Financial Holdings, Fidelity Investments and The Capital Group — and property group, Kennedy Wilson would invest in the bank.

Yesterday’s extraordinary general meeting (EGM) — the third shareholders meeting to be held by BoI this summer — resulted in 99.56% shareholder approval for the investment.