AIB has paid €390 million to the Minister for Finance in what represents the final step in the State’s exit from the bank.
The payment was for the cancellation of around 271 warrants in the bank.
This gave the Minister the right to to buy AIB shares at a fixed price of €6.75, a 14% discount compared to the closing price of AIB shares yesterday evening.
Today’s payment brings the total amount recouped by the State from AIB to €20.2bn since the bank bailout.
“The completion of this warrants cancellation transaction with AIB is a very important step for both the company and the State,” said Minister for Finance, Paschal Donohoe.
“It is the final transaction with AIB and results in a further €390m recovered from our investment in the Company.
“When combined with the €19.8bn already returned to the State, the total amount returned from our investment in AIB will reach €20.2bn,” he added.
Minister Donohoe said the proceeds from the transaction will be held within the Exchequer and will ultimately be used to benefit the State.
Article Source – AIB pays €390m to State in final transaction
