Bank of Ireland Asset Management has been acquired by State Street Global Advisors
The Bank of Ireland Group announced the sale of Bank of Ireland Asset Management (BIAM) to State Street Global Advisors (SSgA) for a cash consideration of circa US$78 million subject to certain conditions. All conditions were satisfied and the sale was completed on 10 January 2011, including the transfer of key personnel.
The sale generated equity tier 1 capital of US$55m million for Bank of Ireland Group. The sale represents a significant milestone for the group in relation to the execution of its EU restructuring plan.
Oaklins' team in Ireland advised Bank of Ireland Group in relation to this transaction.
Talk to the deal team
Managing DirectorDublin, Ireland
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