AIB to acquire €4.2 billion worth of performing business loans from Ulster Bank
As part of the ‘landmark’ deal, about 280 Ulster Bank employees will transfer to AIB
Allied Irish Banks has agreed to acquire €4.2 billion worth of performing business loans from Ulster Bank in what the lender has described as a “landmark” deal.
AIB this morning announced that it had entered into a “binding agreement” with NatWest, Ulster Bank’s parent company, to buy the majority of the bank’s performing corporate and commercial loan book for €4.1 billion, representing a price equivalent to 97.6 per cent of the loans’ par value.
Colin ...
