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Ross eyes other Irish investments

August 17, 2011

By Staff Reporter

New York-based billionaire Wilbur Ross will be casting his eye over other Irish-based investment opportunities, this after his company took a near 10 percent stake in Bank of Ireland.

According to the Irish Examiner, Ross’ investment firm, WL Ross, took a 9.9 percent stake in Bank of Ireland in return for its €300 million part of the recently announced combined €1.12 billion investment in the bank by a small number of private investors, a move that lowers the Irish government’s stake to 15.1 percent, and makes Bank of Ireland the only Irish bank not controlled by the state.

Ross made an unsuccessful bid earlier this year to take control of the EBS Building Society which was eventually merged with Allied Irish Bank. He has stated that Ireland’s efforts to rebuild its economy are finding a favorable reaction from overseas investors.

 

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