Bank of Ireland pays $25m to increase Iridian stake to 92%

Bank of Ireland has paid out $25 million (€19.5 million) to increase its stake in Iridian, the American asset management business in which it bought a controlling interest in 2002.

23rd September, 2006

Bank of Ireland has paid out $25 million (€19.5 million) to increase its stake in Iridian, the American asset management business in which it bought a controlling interest in 2002.

The bank now controls 92 per cent of the Connecticut-based fund manager after acquiring a fresh 8 per cent from the unit’s management in recent weeks. The $25 million payment was the second lump sum received by Iridian management this year, after the bank paid $22 million...

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