AIB sells €216m bank stake for €100k

AIB HAS sold its near-50% stake in a Bulgarian bank, which cost €216 million just three years ago, for a mere €100,000.

Thu, 23 Jun, 2011 - 01:00

Geoff Percival and Fiachra Ó Cionnaith

Confirmation of the Sofia-based Bulgarian-American Credit Bank’s (BACB) sale to an investment firm led by Tsvetelina Borislavova was made on Bulgaria’s stock exchange yesterday.

Ms Borislavova is the girlfriend of the Balkan country’s prime minister, Boyko Borisov.

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Courts Place: Sofia Place: Bulgaria Place: Balkan Place: New York Person: Tsvetelina Borislavova Person: Borislavova Person: Boyko Borisov Organisation: AIB Organisation: AIB HAS Organisation: Credit Bank Organisation: BACB Organisation: Clever Synergies Investment Fund Organisation: CSIF Organisation: Bulgarian Stock Exchange Organisation: Financial Supervision Commission Organisation: Aurelius Capital Management

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AIB sells €216m bank stake for €100k

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AIB sells €216m bank stake for €100k

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