DUBLIN Jan 29 Global distressed debt and
equity investor Lone Star has submitted a bid to buy 2.5 billion
euros ($3.3 billion)of property loans linked to the wealth
management unit of defunct lender Anglo Irish Bank, the Sunday
Lone Star has offered around 80 cents on the euro for the
debt, much of which is secured by an international property
portfolio, the report said.
Other bidders for the wealth management division include
Deutsche Bank with Irish firm Key Capital, it said.
Lone Star last year agreed to buy sub-performing and
non-performing loans with a face value of $5 billion from Anglo,
which has since been renamed the Irish Bank Resolution Corp
IRBC is expected to announce a preferred bidder for its
wealth management division within two weeks, the Sunday Business
IRBC and Lone Star did not immediately respond to requests
for comment on the reports.
($1 = 0.7615 euros)
(Reporting by Conor Humphries; editing by Sophie Walker)