Sandra McLellan
Question:14 Deputy Sandra McLellan asked the Minister for Finance if any talks have been held with prospective investors to sell off any of the State’s shareholding in AIB. [25634/12]
View answerWednesday, 23 May 2012
Questions (15)
Written answers
As announced to the House in September last year, I am aware that AIB has held initial preliminary meetings with equity investors who have expressed an interest in potentially acquiring a stake in AIB. Following these discussions, I am informed by the bank that they expect investors will require more visibility on the bank's performance, particularly its asset quality, before discussions move beyond the preliminary and exploratory stage.
At present, AIB is undergoing a significant restructuring process and as one of the two pillar banks in the domestic economy it is natural that investors will seek to have preliminary discussions with both the bank and the State in order to better understand the underlying performance and value of the AIB franchise. The 2011 transaction completed by the State with private investors in Bank of Ireland demonstrates that international money managers remain optimistic over the outlook for the Irish economy. As and when any concrete interest is expressed by external investors in making an investment in AIB it will be carefully evaluated by my staff and the bank to ensure that taxpayers' interests are protected at all times.