Bloomberg News

Bank of Ireland May Get Bid From Buyout Firms, Irish Times Says

November 21, 2008

Bank of Ireland Plc, the country' biggest lender by assets, may get an injection of capital from private equity groups, the Irish Times reported, without saying where it got the information.

U.S. buyout firms J.C. Flowers & Co. and the Carlyle Group and Irish hedge fund Cardinal Asset Management may buy up to 40 percent of the Dublin-based bank the newspaper said.

The newspaper said the firms want to merge Bank of Ireland with Irish Life & Permanent Plc to create one of the largest financial institutions in the country with a 40 percent share of the mortgage market.

To contact the reporter on this story: Ian Guider in Dublin at iguider@bloomberg.net.

To contact the editors responsible for this story: Mike Anderson at manderson34@bloomberg.net; Frank Connelly at fconnelly@bloomberg.net.


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