Banking
State agrees €1 billion AIB share buyback
Transaction will see the state reduce its stake in the lender, which was acquired following a €21 billion crisis-era bailout, by a further 5 per cent
The government has agreed in principle to AIB’s latest share buyback proposal, which will see nearly a billion of state-owned stock returned to the bank.
AIB will acquire €999 million of its shares from the state, with completion expected by way of an off-market purchase following the AIB annual general meeting (AGM) on May 2.
The transaction will see the state reduce its stake in the lender, which was acquired following a €21 billion crisis-era ...