Saturday 3 December 2016

EBS

Published 29/11/2010 | 05:00

ON-the-block EBS was told last night to raise an extra €438m to meet the Central Bank's new rules.

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The demand complicates the process of offloading EBS from state ownership, since the two final bidders were due to submit binding offers by December 22.

One bidder, IL&P, was already facing serious challenges to raise the capital for the EBS deal and had been depending on the Government for EBS's own €550m capital demand.

The other bidder, a private equity consortium led by Cardinal Asset Management, had agreed to stump up the €550m originally demanded but may baulk at the extra €438m.

Irish Independent

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