Permanent TSB Group Holdings Plc, the bailed-out Irish lender, hired Morgan Stanley to sell its commercial real estate and subprime residential mortgage loan books, which have a combined face value of about 2.6 billion euros ($3.5 billion).
Irish Life Group Ltd. Chief Executive Officer Kevin Murphy postponed his plans to retire at the end of 2012 as the government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc.
On a Sunday morning in October, Simon Kelly sat in the breakfast room of Dublin’s Morrison Hotel, looking eager to chat. Simon, 38, and his father, Paddy Kelly, 66, were once among Ireland’s most audacious real estate developers. During the boom years, they borrowed about 700 million euros ($950 million) from Anglo Irish Bank Corp. to buy golf resorts and build hotels.
Ireland’s National Asset Management Agency is preparing to sell three office buildings in central Dublin with a combined valued of more than 100 million euros ($134 million), two people with knowledge of the plan said.
Royal Bank of Scotland Group Plc said its Irish unit, Ulster Bank, posted its first quarterly profit in five years as impaired loan losses fell 80 percent, helped by a transfer of risky assets to an internal bad bank.
Ireland’s National Asset Management Agency, the country’s so-called bad bank, will publish today a list of about 850 properties it has seized through the appointment of receivers and now has available for sale, a spokesman for the agency said.
Ireland’s National Asset Management Agency is preparing to sell about 300 million euros ($408 million) of Irish real estate loans as demand from overseas buyers rises, three people with knowledge of the plan said.
Ireland’s National Asset Management Agency is changing its management structure so that its lending and corporate finance teams report to Deputy Head of Portfolio Management Michael Moriarty rather than to the head of lending.