Sunday September 20, 2020

Anglo writes off stake in Limerick firm

Anglo Irish Bank has written down the value of its 50 per cent stake in the company behind a proposed shopping centre development in Limerick city to zero.

24th April, 2010

Anglo Irish Bank has written down the value of its 50 per cent stake in the company behind a proposed shopping centre development in Limerick city to zero.

The write-down, reflected in its annual report, shows that the state-owned bank had previously valued its shareholding in the proposed Opera Centre development at €16 million in September 2008.

Anglo Irish Bank became a 50 per cent shareholder in the venture in late 2007 when it acquired the stake....

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