Consortium Shows Interest In Anglo Irish
Updated : Feb 28, 2009
A consortium of Irish and foreign investors has held discussions wit the Government and the National Treasury Management Agency about taking a majority shareholding in Anglo Irish Bank and investing €5bn in the financial institution.
It is believed that the Mallabraca consortium, made up of US, Irish and Middle Eastern investors, has held talks with the Government on the issue despite Anglo being the source of multiple banking scandals
While the investors have put their interest on hold until investigations by gardaí and the Office of the Director of Corporate Enforcement are complete, indications are that this can be overcome by some form of indemnity
It is understood that any proposal which would benefit the State and stabilise the bank would be agreed to and Executive Chairman Donal O'Connor would be prepared to stand down to make way for a new chief executive.
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