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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