Thu, 01 Apr 2010 | BUSINESS SALE
Staff at First Trust are said to be shocked at news that its owner, Allied Irish Bank (AIB), is selling the division off.
AIB has confirmed that it is putting its UK arm and First Trust up for sale in an attempt to raise part of its EUR 7.4 billion target.
First Trust is one of several divisions being sold off along with the US and European divisions AIB is selling to fill a “black hole” in its finances. This black hole came about after it sold EUR 23 billion worth of loans to the National Asset Management Agency in the Republic of Ireland. It sold the loans at a discount of 43 per cent.
The Irish government says it will take a majority stake in AIB if it fails to raise necessary funding through attracting private equity investment.
Members of the Irish finance workers union are said to be "profoundly distressed, confused and angry," about the news that First Trust will be sold off. The Union’s Larry Broderick explained, 'our members in First Trust Bank who have worked so hard to build up the business in the most difficult circumstances feel betrayed by a senior management team that considers them to be dispensable."
The company is an established provider of ophthalmology products to the healthcare, private, and veterinary sectors. Operating for over 27 years, the business has developed a broad product portfolio, including intra ocular lenses, viscoelastics, eye...
FREEHOLD
The company specialises in the sale of photocopiers, printers, general hardware and software, along with the provision of print management, document storage and servicing solutions.
A well-established, employee-managed, gourmet fried chicken restaurant and takeaway, located in the centre of Manchester within the regenerated former BBC site off Oxford Road. Based in Circle Square is a vibrant new neighbourhood home to a range of...
LEASEHOLD
17
|
Apr
|
Hoxton Capital Management targets more M&A after double acquisition | BUSINESS SALE
International independent financial advisory firm Hoxton Cap...
17
|
Apr
|
Bristol printing firm rescued in pre-pack deal | BUSINESS SALE
A printing company based in Bristol has been saved after bei...
17
|
Apr
|
South Wales merger creates property and business finance services portfolio | MERGER
The merger of two firms based in South Wales has created a c...
17
|
Apr
|
South Wales merger creates property and business finance services portfolio | MERGER
The merger of two firms based in South Wales has created a c...
17
|
Apr
|
Bristol printing firm rescued in pre-pack deal | BUSINESS SALE
A printing company based in Bristol has been saved after bei...
17
|
Apr
|
Hoxton Capital Management targets more M&A after double acquisition | BUSINESS SALE
International independent financial advisory firm Hoxton Cap...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.