AIB shareholders have approved an off-market purchase of ordinary shares from the Finance Minister at an extraordinary general meeting (EGM) called by the bank today.
Earlier this year, AIB and Finance Minister Michael McGrath agreed to a deal that would see AIB buy over €1bn of shares from the State as the Government continues to reduce its stake in the bank.
The Irish State’s shareholding in the bank currently stands at 37.99pc, meaning it had the biggest vote on the proposed transaction. It will now drop to 32.9pc.
Leave a Reply