Written answers

Thursday, 13 July 2017

Department of Finance

State Banking Sector

Photo of Aindrias MoynihanAindrias 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]

Photo of Paschal DonohoePaschal 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%.

Photo of Aindrias MoynihanAindrias 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]

Photo of Paschal DonohoePaschal 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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