Ireland’s National Asset Management Agency is preparing to sell Irish, German and U.K. real estate loans with a face value of 1.8 billion euros ($2.5 billion) as demand for property debt rises, two people with knowledge of the plan said.
Bank of Ireland Plc will redeem some of the government’s preferred shares in the company, helping the state to more than recoup the 4.8 billion-euro ($6.5 billion) cost of rescuing of the country’s largest lender.
Eircom Group, the former Irish state-owned phone company that has changed ownership six times since 1999, may see more shareholder movement next year as trading restrictions are lifted on senior lenders who took control in 2012.
In September, RSA Insurance Group Plc Chief Executive Officer Simon Lee expanded the role of his top Irish lieutenant, Philip Smith, and praised his “outstanding record.” Two months later, he suspended him.
Irish utility company Bord Gais Eireann invited Blackstone Group LP and power companies Viridian Group Ltd. and Centrica Plc to make final offers for its retail unit by Nov. 25, according to people with knowledge of the matter.
Allied Irish Banks Plc, the nation’s largest state-owned lender, reported overdue home-loan growth eased “significantly” in the third quarter as Moody’s Investors Service said Ireland’s housing market may have hit bottom.