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Allied Irish share sale more likely in 2016 -finance minister

Reuters - UK Focus

DUBLIN, July 23 (Reuters) - Ireland (Other OTC: IRLD - news) will likely go ahead with its planned sale of a minority stake in 99-percent state owned Allied Irish Banks (AIB) in mid-2016 rather than later this year, Finance Minister Michael Noonan said on Thursday.

Ireland is aiming to recover the 21 billion euros ($23 billion) it invested in AIB, the largest bailout of any Irish lender still trading. Its advisors Goldman Sachs (NYSE: GS-PB - news) are currently weighing up options for a sale.

"While there is a window there, the likelihood is that the IPO (initial public offering) will go into the middle of 2016, late spring or summer of 2016," Noonan said, referring to November as the only possible window for a sale this year. ($1 = 0.9103 euros) (Reporting by Padraic Halpin; editing by Jason Neely)