AIB has agreed to sell Goodbody Holdings to Fexco in a deal expected to be worth about €24 million.
The sale includes Goodbody Stockbrokers, and must be approved by regulators.
“The positive impact on AIB Group's capital position as a result of the transaction is not material,” the bank said in a statement.
If Fexco sells the group for cash within three years of completing the deal with AIB for more than it originally paid, or sells certain assets, it may have to pay an additional sum to the bank.
AIB is currently selling assets and planning a rights issue to meet the Financial Regulator’s capital target of €7.4 billion. The bank expects to raise up to €3 billion in equity from private investors and the Government in the share deal.
Last week, it agreed to sell Polish lender Bank Zachodni to Santander for €2.5 billion. AIB is also selling its 22.5 per cent stake in US bank MT and its UK business, including First Trust Bank in Northern Ireland.
