Government set to make €2.5bn from BoI deal

The Government stands to make an overall profit of up to €2.5bn from its initial €4.8bn investment in Bank of Ireland.

In a bid to fully exit State ownership, Bank of Ireland raised €580m through a share placement of 2,230,769,231 units at 26 cents per unit.

It used €537m of the proceeds to part refinance the €1.8bn in preference shares owned by the Government.