BoI talks on British loan book sale

Dublin: Reports over the weekend suggest that Bank of Ireland has entered exclusive talks with one of its new investors — US property firm Kennedy Wilson — to sell it its €1.5bn British loan book.

Kennedy Wilson is one of the five investors (the others being WL Ross, Fairfax Financial Holdings, Fidelity Investments and The Capital Group) whose combined €1.12bn investment in Bank of Ireland was approved by shareholders earlier this month, thus reducing the state’s ownership of the bank to a 15.1% stake.

Weekend reports have also suggested that AIB’s shortlist of new chief executive candidates is down to just two — with former ING executive, David Duffy and HSBC man Brendan McDonagh in the frame.

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courtsplace: dublinplace: usperson: kennedy wilsonperson: david duffyperson: brendan mcdonaghorganisation: boiorganisation: bank of irelandorganisation: wl rossorganisation: fairfax financial holdingsorganisation: fidelity investmentsorganisation: the capital grouporganisation: aiborganisation: ingorganisation: hsbc

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