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Ireland to auction off Anglo, INBS deposits and assts
February 8, 2011 / 1:19 PM / 7 years ago

Ireland to auction off Anglo, INBS deposits and assts

DUBLIN, Feb 8 (Reuters) - Ireland’s debt management agency said on Tuesday it will commence an auction process for the sale of the deposits and assets of Anglo Irish Bank [ANGIB.UL] and Irish Nationwide [IRNBS.UL].

Ireland submitted restructuring plans for the two state-run lenders to the European Commission last week, meeting its first major banking deadline under an IMF/EU bailout and received clearance from the Irish High Court on Tuesday to push through those plans.

“The NTMA (National Treasury Management Agency) will immediately commence an auction process to invite interested, fully-licensed financial institutions to tender for Anglo and INBS deposits,” the debt management agency said.

“It is intended that this process will conclude as quickly as possible.”

Reporting by Padraic Halpin; Editing by Ron Askew

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