AIB to Buy EUR 216 M Stake in Bulgarian American Credit Bank

Business | February 22, 2008, Friday // 00:00

Allied Irish Banks announced on Friday it will acquire a 49.99 % stake in Bulgarian-American Credit Bank (BACB) for EUR 216 M.

AIB said the stake was being bought from BACB's majority shareholder the Bulgarian-American Enterprise Fund.

"The transaction is expected to be marginally EPS (earnings per share) accretive for AIB and will have a minimal capital impact," the Irish financial group, headquartered in Dublin, said in a statement.

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