The State’s holding in Bank of Ireland has dropped to just more than 15% after €1bn investment by a Canadian investment firm.

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.

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%.

US BILLIONAIRE investor Wilbur Ross has said he will look at other Irish-based investment opportunities, after his company took a near-10% stake in Bank of Ireland.

Bank of Ireland has released details of the private investors which came forward earlier in the week to buy a substantial stake in the bank.