AIB sells AIBIM to Prescient
AIB has signed an agreement to sell its investment subsidiary, AIB Asset Management Holdings (Ireland), which includes AIB Investment Managers (AIBIM) to South African asset management company, Prescient Holdings, for an undisclosed amount.
The acquisition is expected to be completed in the first quarter of 2012.
AIB said the positive impact on the group’s capital position as a result of the transaction is not material.
Irish Life & Permanent withdrew its preferred bid for the unit in April.