Written answers
Thursday, 13 July 2017
Department of Finance
State Banking Sector
Aindrias Moynihan (Cork North West, Fianna Fail)
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203. To ask the Minister for Finance the State's shareholding in a bank (details supplied) prior to the banks rights issue in July 2011. [34503/17]
Paschal Donohoe (Dublin Central, Fine Gael)
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I can confirm for the Deputy that the State's shareholding in BOI, prior to the rights issue in July 2011, was 36%.
Aindrias Moynihan (Cork North West, Fianna Fail)
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204. To ask the Minister for Finance the number of the State's shares in a bank (details supplied) which were sold to North American Investors in July 2011. [34504/17]
Paschal Donohoe (Dublin Central, Fine Gael)
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I can confirm for the Deputy that, in July 2011, a group of North American investors agreed to buy up to 10,511m ordinary shares in Bank of Ireland from the State. The purchase was completed in two tranches:
July 2011 - an initial unconditional purchase of 2,382m shares.
October 2011 - following receipt of regulatory clearances by the investors, a second purchase of 8,129m shares.
The Deputy should note that these figures are not adjusted for the recent share consolidation which was effected at a ratio of 30:1.
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