AIB in talks to buy Investec Ireland

Move comes after bank exited EU aid plan which prevented it from doing deals

AIB is among a number of parties circling the Irish unit of South African financial services group Investec in what sources are describing as a competitive process

AIB is among a number of parties circling the Irish unit of South African financial services group Investec in what sources are describing as a competitive process

AIB is in early talks to acquire investment and stockbroking firm Investec Ireland, a month after the bailed-out lender exited a European Union state-aid restructuring plan that banned it from doing deals, according to sources.

The 71 per cent state-owned bank, which returned to the main stock markets in Dublin and London last June, is among a number of parties circling the Irish unit of South African financial services group Investec in what sources are describing as a competitive process. However, Investec has not made a definite decision to proceed with a sale of the business.

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