Bank of Ireland may sell loan unit to Wells Fargo

BANK of Ireland may sell Burdale Finance, a unit that extends loans secured against assets, to Wells Fargo&, according to two people with knowledge of the matter.

The bank hired Hawkpoint Partners in April to advise on the sale of London-based Burdale, which has about €800 million of loans in Britain and the US.

The bank is in exclusive talks with Wells Fargo, and a deal may be completed by the year-end, said the people, who declined to be identified, because the talks haven’t been completed.