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State to sell off remaining shareholding in AIB

It is expected the share sale could raise between €200m and €300m for the State
It is expected the share sale could raise between €200m and €300m for the State

The State is to sell off its remaining shareholding in AIB tomorrow.

Minister for Finance Pascal Donohoe announced this afternoon that the final shares will be sold off reducing the State's stake to zero.

He added: "This is an important milestone in delivering on the government's policy of returning the banking sector to private ownership."

The State currently has a 3% stake in the bank.

It is expected to conclude the transaction early tomorrow morning and raise between €200m and €300m.