Anglo Irish planning for Quinn takeover
Anglo Irish Bank is just weeks away from delivering plans to the country’s Financial Regulator for the takeover of Quinn Insurance, according to the Irish Independent.
The newspaper stated the plan will show if the state-owned bank is buying Quinn on its own or with a partner and detail management changes along with a final an exit strategy. The bank is currently owed €2.4bn by the Quinn Group.
According to the report Quinn Insurance is due to issue a sales prospectus to potential buyers today and the article added that Anglo is understood to be impressed with the resilience of Quinn Insurance's Irish book in recent months.
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