Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

AIB’s agrees to sell portfolio to Goldman Sachs

AIB has agreed to sell a portfolio of around 1,500 non-performing buy-to-let property loans to Goldman Sachs.

The investment banking titan secured the portfolio for €200m (£169.76m), representing roughly half the original gross value of the loans.

AIB announced yesterday that it is now contacting borrowers to inform them of the loan transfer, which is tied to 1,200 homes.

The Project Cypress deal comes as AIB prepares to return to the stock exchange later this year. The near €3bn (£2.55bn) flotation will reduce the Government’s stake in AIB by 25%.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.