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Ireland appoints coordinators for AIB IPO
December 16, 2016 / 3:30 PM / a year ago

Ireland appoints coordinators for AIB IPO

DUBLIN, Dec 16 (Reuters) - Ireland announced on Friday the appointment of global coordinators for the planned sale of a stake in Allied Irish Banks, but said it would not commit to a fixed timeframe for the transaction.

Bank of America Merrill Lynch, Davy and Deutsche Bank will act as the global coordinators, the finance ministry said in a statement.

The government had planned to begin cashing out its 21 billion euro ($22 billion) investment in the 99 percent state-owned bank in late 2016, but says it will now assess the possibilities of a floatation in 2017 or early 2018.

“There remains no fixed timetable for any sale at this time as it will depend on market conditions amongst other things,” Finance Minister Michael Noonan said.

$1 = 0.9586 euros Reporting by Conor Humphries; Editing by Mark Potter

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