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Saturday 24 February 2018

Investors get first glimpse of assets

colm kelpie

PROSPECTIVE investors have gotten their first glimpse at some of the €22bn worth of assets being sold off under the liquidation of the former Anglo Irish Bank.

When the bank was wound up in February, the special liquidators were tasked with selling off the bank's loan book.

Possible buyers were yesterday allowed to inspect the first of the four loan portfolios on offer.

The so-called Project Evergreen, made up of €3.5bn worth of business loans, is kicking off the sales process.

It will be followed by €7.8bn of UK commercial property loans, a €1.8bn Irish residential mortgage book and a €9.3bn Irish-originated commercial real-estate book.

Anything not sold will be transferred to the State's bad bank NAMA.

Irish Independent

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