Allied Irish Banks (Adr) (AIBRF) has released an update.
Allied Irish Banks (AIB) has successfully negotiated an off-market purchase of nearly 198 million shares from the Minister for Finance at a cost of just under €1 billion, with plans to cancel the acquired shares. This move represents a 7.6% reduction in AIB’s issued share capital and is a significant step towards the bank’s return to full private ownership. CEO Colin Hunt expressed satisfaction with the transaction, citing a strong first quarter performance and the bank’s commitment to shareholder value and economic support.
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