AIB to sell stake in US bank

Allied Irish Bank is to sell its 22% stake in the New York based M&T Bank Corporation, through a public share offering.

AIB to sell stake in US bank
Wed, 06 Oct, 2010 - 08:48

Allied Irish Bank is to sell its 22% stake in the New York based M&T Bank Corporation, through a public share offering.

The stake in the US bank is currently valued at over €2bn but the sale at a discount is expected to raise around €750m in capital.

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