The Minister for Finance, Mr McCreevy, has appointed the Merrion Capital Group to advise him on the sale of his shareholding in ACCBank. The bank has been valued at #100 million (£79 million) to #250 million depending on the level of interest expressed. So far, the Dutch group Rabobank is the only one to confirm its interest in the bank with discussions continuing between the two banks. ACCBank hopes a sale will be concluded by year-end.

Solicitors A & L Goodbody are also advising the Minister for Finance on the sale.