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Investing.com -- The Irish government sold its remaining 2.06% stake in AIB Group (OTC:AIBRF) on Tuesday, marking the end of state ownership that began 15 years ago during one of the euro zone’s largest banking bailouts.
The shares were sold at €6.94 per share, generating €305 million ($352.6 million) upon settlement, according to a statement from the finance ministry.
With this final sale, the total amount returned to the Irish state from its investment in AIB has reached €19.8 billion. The government had effectively nationalized AIB, one of Ireland’s two dominant lenders, as part of the financial crisis rescue measures.
The sale represents the complete exit of the Irish government from AIB’s ownership structure, concluding a chapter that began with the state’s intervention during the financial crisis.
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