Anglo Irish Bank Shrinks Loss Ahead of Sale, Closure

Anglo Irish Bank said that it has shrank its net loss in the first half of this year, as it hopes to complete the sale of its U.S. loan portfolio, and eventually wind down, Reuters reported. The bank – which faced a slew of scandals during the property crisis – plans to wind down by 2020. Blackstone Group and distressed debt and equity investor Lone Star Funds are among the bidders for the bank’s U.S. commercial real estate loan portfolio, valued at around $9.5 billion.

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