Niche Irish bank goes on sale for up to €500m

KPMG appointed to sell EAA Covered Bond Bank after winding-up of German bank WestLB

27th March, 2016
KPMG have been appointed to sell EAA PIC:

KPMG has been appointed to sell a specialised Irish bank based in Dublin.

EAA Covered Bond Bank plc was put on the market last week by the winding-up agency for WestLB, the German bank which collapsed during the financial crisis at a cost of €18 billion.

The sale of EAA is expected to generate between €400 million and €500 million.

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