AIB has paid \u20ac390 million to the Minister for Finance in what represents the final step in the State’s exit from the bank.<\/p>\n
The payment was for the cancellation of around 271 million warrants in the bank.<\/p>\n
This gave the Minister the right to to buy AIB shares at a fixed price of \u20ac6.75, a 14% discount compared to the closing price of AIB shares yesterday evening.<\/p>\n
Today’s payment brings the total amount recouped by the State from AIB to \u20ac20.2 billion since the bank bailout, a shortfall of around \u20ac600 million.<\/p>\n
“The completion of this warrants cancellation transaction with AIB is a very important step for both the company and the State,” said Minister for Finance, Paschal Donohoe.<\/p>\n
“It is the final transaction with AIB and results in a further \u20ac390 million recovered from our investment in the Company.<\/p>\n
“When combined with the \u20ac19.8 billion already returned to the State, the total amount returned from our investment in AIB will reach \u20ac20.2 billion,” he added.<\/p>\n
Minister Donohoe said the proceeds from the transaction will be held within the Exchequer and will ultimately be used to benefit the State.<\/p>\n
A total of \u20ac29.4 billion was paid out by the State to AIB, Bank of Ireland and PTSB between 2009 to 2011.<\/p>\n
So far, \u20ac29.7 billion has been recovered.<\/p>\n","protected":false},"excerpt":{"rendered":"AIB has paid \u20ac390 million to the Minister for Finance in what represents the final step in the…\n","protected":false},"author":2,"featured_media":113870,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,43,40,38,41,39],"class_list":{"0":"post-113869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-headlines","9":"tag-news","10":"tag-top-news","11":"tag-top-stories","12":"tag-topnews","13":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/113869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=113869"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/113869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/113870"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=113869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=113869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=113869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}