Allen & Overy advises the Irish Department of Finance on its EUR500m disposal

Building on the success of a previous EUR480m capital raise in June, involving the sale of another 5% stake, and additional share disposals throughout 2023, the State is set to generate approximately EUR1.5bn this year alone from divesting its shares in AIB. Cumulatively, taxpayers have recouped EUR2.bn from AIB since the beginning of 2022, excluding the most recent deal.

This latest transaction, led by Allen & Overy partners James Roe and Adam Wells, and supported by senior associate Carolyn Slauson-Ali, contributes to an overall recovery by the state of around EUR13.5bn to date, against the backdrop of the EUR21 billion initially invested in rescuing the lender. Allen & Overy acted alongside William Fry, Irish counsel to the Department.

Building on the success of a previous EUR480m capital raise in June, involving the sale of another 5% stake, and additional share disposals throughout 2023, the State is set to generate approximately EUR1.5bn this year alone from divesting its shares in AIB. Cumulatively, taxpayers have recouped EUR2.bn from AIB since the beginning of 2022, excluding the most recent deal.

This latest transaction, led by Allen & Overy partners James Roe and Adam Wells, and supported by senior associate Carolyn Slauson-Ali, contributes to an overall recovery by the state of around EUR13.5bn to date, against the backdrop of the EUR21 billion initially invested in rescuing the lender. Allen & Overy acted alongside William Fry, Irish counsel to the Department.