February 26, 2014 / 10:41 AM / 4 years ago

Anglo Irish liquidators offload 7.3 bln euro loan portfolio

DUBLIN, Feb 26 (Reuters) - The Liquidators appointed to the collapsed Anglo Irish Bank have sold a second loan portfolio with a par value of 7.3 billion euros ($10 billion) above an initial valuation, Ireland’s finance minister said on Wednesday.

Anglo Irish, renamed the Irish Bank Resolution Corporation (IBRC) in its final years, was put into liquidation last year. The liquidators, KPMG, must either complete the sale of its assets by early this year or transfer them to the National Asset Management Agency (NAMA), the state-owned “bad bank”.

“The sale of this entire portfolio on top of the success of the Project Evergreen sale late last year will considerably reduce the amount of assets that are now expected to transfer to NAMA and bodes well for the ultimate success of the liquidation,” Michael Noonan said in a statement.

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