Rochester, NY 8/20/2009 9:25:40 PM
Allied Irish Banks plc AIB - Allied Irish announces its Canadian Bank Interested at Stake
Allied Irish Banks plc AIB
Allied Irish Banks PLC shares rise as the lender confirmed that an undisclosed company had expressed interest in buying a minority stake in the group.
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Shares soared more than 10 percent after the Irish Times reported that an unidentified Canadian Bank had made an approach to AIB, which reported heavy first-half losses, in the last two weeks. AIB said earlier this month that it was too early to say how much of AIB’s loan book could end up being sold. Property development books include 660 customers who owe the bank euro16 billion ($22.87 billion.)
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