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breakingnews.ie/business/
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Mon Jul 25, 2011 2:55am EDT
* Sale will keep country's largest lender out of state control
* Bank says major vote of confidence in Irish economy
* Deal will reduce state's recapitalisation bill by 1.1 bln (Writes through, adds background)
DUBLIN, July 25 - Ireland sold a 1.1 billion euro stake in Bank of Ireland to a group of unidentified investors in a deal that will keep the country's largest bank out of state control, the government said on Monday.
The government had been widely expected to take control of Bank of Ireland, the last domestic lender outside of state ownership, after it agreed to underwrite a rights issues, whose results are due on Tuesday.
After the sale and rights issue, the government will own a maximum of 32 percent in the bank, the finance ministry said.
"The bank is very pleased to see this major endorsement ... and the confidence which these investors share with the bank in the future for the Irish economy," Bank of Ireland said in a statement.
Under the deal the investors will initially purchase 241 million euros worth of the state's shareholding. They will then purchase the remainder of up to 882 million euros after regulatory approvals. In all they will purchase 4.2 billion ordinary shares.
The government said the sale would not involve any additional risk sharing for the government.
Depending on the results of the rights issue, Ireland will end up with between 15 and 32 percent of the bank. Existing shareholders will hold between 31 and 71 percent and the new investors will hold between 14 percent and 37 percent.
The sale will reduce the size of a state capital injection into the lender required under a IMF/EU bailout deal by 1.1 billion euros to a total of 2.4 billion euros.
The government will thus be able to recapitalise the bank without recourse to EU/IMF funds, the finance ministry said.
Dublin has closed two of its six domestic lenders, merged another two state-controlled institutions and will soon take over a fifth as it seeks to draw a line under a banking crisis that forced the former Celtic Tiger economy into an EU-IMF bailout. (Editing by David Holmes)
http://www.reuters.com/article/2011/07/25/...ealEstateNews&rpc=43
Press Release Source: CNF 8:04, Monday 25 July 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT, INCLUDING THE UNITED STATES
Significant Investment in Bank of Ireland (Irish: BIR.IR - news)
25 July 2011
The Governor and Company of the Bank of Ireland ("Bank of Ireland" or "the Bank") welcomes today's announcement by the State of an investment of up to €1.123 billion in the Bank by a group of significant institutional investors and fund managers. As part of the agreement between the State and these investors, the State has agreed to sell c. 4.2 billion units of ordinary stock, representing approximately 14.0 per cent of the Bank's fully diluted ordinary stock*, at a price of 10 cent per unit as follows (i) a sale of c. 2.4 billion units on completion of the rights issue and (ii) a sale of c. 1.8 billion units conditional on the receipt of certain regulatory clearances. In addition, these investors have agreed with the State that, to the extent that the State acquires ordinary stock pursuant to the rights issue underwriting agreement and subject to certain conditions being satisfied, they will purchase up to a further c. 7.0 billion units of ordinary stock from the State, representing approximately 23.3 per cent. of the fully diluted ordinary stock*, at a price of 10 cent per unit. The conditions to this further purchase of 7.0 billion units of ordinary stock include the receipt of certain regulatory consents by these investors and to the extent that the resultant combined stockholdings of these investors exceed 29.9 per cent. of the Bank's then fully diluted ordinary stock, prior approval by independent stockholders. The Bank has been advised that each of these investors will manage their individual stockholdings independently. The Bank has made detailed presentations to and facilitated the due diligence of each of these investors over recent weeks in relation to the Bank's business and strategy and the progress which the Bank has made in repositioning and refocusing itself, including the Bank's pivotal role in helping revitalise the Irish economy.
The Bank has been advised that, should the regulatory and other conditions to all of the above transactions be satisfied and the transactions concluded, the State's maximum stockholding in the Bank would be 32.4 per cent. of the fully diluted ordinary stock* while the State's stockholding will not fall below 15 per cent. The maximum combined stockholding of these investors would be 37.3 per cent. while their minimum combined stockholding would be 14.0 per cent. The precise stockholdings can only be determined upon completion of the rights issue and rump placing and after all regulatory and other approvals necessary for the investment are obtained. The Bank will announce further details of the stockholdings of the State and these investors on completion of the rights issue and rump placing in the coming days.
In order to facilitate this investment, the Bank has given certain commitments to these investors including to assist them obtain the regulatory approvals required for their investment, to conduct business in the ordinary course and to ensure pre-emption. The overall costs of the capital raising, including certain expenses of these investors, will remain within the costs figure previously advised to stockholders. The Bank has also agreed, subject to stockholder approval, to place additional stock up to a maximum of approximately 6 per cent. of the Bank's then fully diluted ordinary stock, with these investors and the State, at 10 cent per unit where their stockholdings following the above transactions are less than 25 per cent. and 15 per cent. respectively. The Bank intends to use the proceeds of any such placings to redeem an equivalent capital value of the 2009 Preference Stock held by the NPRFC.
The Bank stated "The Bank is very pleased to see this major endorsement of the Bank's strategy and the confidence which these investors share with the Bank in the future for the Irish economy. The Bank very much appreciates the opportunity which the Minister has provided to the Bank to seek private capital sources to support its capital raising programme and to enable its existing stockholders to participate in the rights issue component of the capital raising programme."
The latest time for acceptance and payment in full for the rights issue is 11.00am on 26 July 2011.
ENDS
* Based on c. 30.1 billion units of ordinary stock, being the number of units of ordinary stock that will be in issue on completion of the Rights Issue and the issuance of new ordinary stock pursuant to the Debt for Equity Offers and excluding any potential issue of new ordinary stock pursuant to the proposed placing
For further information please contact:
Bank of Ireland
John O'Donovan
Andrew Keating
Group Chief Financial Officer
Director of Group Finance
+353 (0)766 23 4703
+353 (0)1 637 8141
Tony Joyce
Head of Group Investor Relations
+353 (0)766 23 4729
Dan Loughrey
Head of Group Corporate Communications
+353 (0)766 234770
IBI Corporate Finance
Tom Godfrey
+353 (0)1 637 7800
Mark Spain
+353 (0)1 637 7800
http://uk.finance.yahoo.com/news/...f-128894972.html?x=0&.v=1
weiß jemand, für wie viel die nicht vollzogenen Bezugsrechte zwangsverkauft wurden?
gewartet, ab jetzt müsste wenn alles gut geht der kurs nur eine richtung kennen NORDEN.
BOI hat verdammt viel erholungspotenzial...
Ich hoffe für alle das sich das Blatt jetzt entgültig wendet..
Ich werde Dein Posts vermissen. Lass Dich von ein paar Superschlauen, die hier in dieser jetzigen Situation bei der BOI mit KGV anfangen nicht vom Posten abhalten. Bei welchem KGV ich kaufen soll (ist übrigens nur ein Parameter, denn man berücksichtigen muss) und wann nicht, kann man überall nachlesen, das interessiert mich hier und jetzt bei der BOI auch nicht. Mich interessieren hier Meinungen über die Zukunft von BOI. Und da war mir Deine immer wichtig. Übrigens war ich auch bei Sky dabei und hab u.a. auch Deine Meinungen immer verfolgt, und der Erfolg gab Dir recht, auch wenn Du zu etwas früh ausgestiegen bist. Ein Invest hier ist reine Spekulation. Also bleib...
DUBLIN, July 25 (Reuters) - Ireland's sale of a 1.1 billion euro ($1.6 billion)stake in Bank of Ireland to a group of private investors gives a strong signal internationally, Finance Minister Michael Noonan said on Monday.
"It has been recited far and wide that it is impossible for Ireland to get money on the markets, now we have significant private sector investors prepared to put money into Bank of Ireland and that's a strong signal internationally," Noonan told national broadcaster RTE.
The government had been widely expected to take control of Bank of Ireland, the last domestic lender outside of state ownership, but Monday's stake sale will keep the country's largest bank out of state control. ($1 = 0.696 Euros) (Reporting by Padraic Halpin; Editing by David Holmes)
http://www.reuters.com/article/2011/07/25/...ealEstateNews&rpc=43
DUBLIN, July 25 | Mon Jul 25, 2011 3:37am EDT
IHR gehört zu den BESTEN!
Eure Beiträge sind einfach sachlich und Kompetent..
Das brauchen wir hier
Da sind eben 80 Mille über den Tisch gegangen!
Krass
www.advfn.com/...art&s=I%5EBIR&p=0&t=39&vol=1" style="max-width:560px" alt="" />
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