RIP Laura Buckley Noonan
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06 Sept 2025
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06 Sept 2025
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Paschal Donohoe said the state is making progress in recovering taxpayers’ funds used to rescue banks after it sold off another part of its stake in AIB.
The Minister for Finance said it sold part of its stake to institutional investors for 396.6 million euro.
It has now reduced its shareholding in AIB from 71.1% at the beginning of the year to 57%.
It is the state’s latest effort to sell its stake in the banking sector following its multi-billion euro rescue plan for the banks during the 2008 global financial crash.
Minister @paschald has welcomed the successful disposal of part of the State’s shareholding in AIB Group plc.
Read more: https://t.co/SoZuWJYjMW pic.twitter.com/c5h4bfEGTs
— Department of Finance (@IRLDeptFinance) November 8, 2022
The Government put 64 billion euros into Irish banks during the property crash.
Mr Donohoe welcomed the sale by way of an accelerated bookbuild (ABB) transaction.
Mr Donohoe said: “As announced earlier today, the state sold a tranche of AIB shares at a price of 2.96 euro per share which will generate 396.6 million euro for the Exchequer. The transaction was well received by a large number of international institutional investors.
“As I have previously stated, this Government believes that banking is an activity that should in the main be provided by the private sector and that taxpayer funds which were used to rescue the banks should be recovered and used for more productive purposes.
“As today’s news shows, we continue to make progress in achieving this goal.
“As is the convention following such transactions, the state has now entered into a “lock-up” period of approximately three months before another ABB can be considered, with a slightly reduced lock-up period of approximately two months for the now paused AIB trading plan.
“The state retains a 57% ownership position in AIB, and following the three-month lock-up period, will continue to assess additional opportunities for share sales as they arise.”
It comes as the state sold its remaining shares in Bank of Ireland in September, making it the first bank to return to full private ownership since the crash.
The Government has now recovered almost 6.7 billion euro in cash from its 4.7 billion euro rescue plan for Bank of Ireland.
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