UPDATE 3-Bank of Ireland investors triple their money in stake sale

Tue Mar 4, 2014 10:38am EST
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* Pair invested when shares had fallen to 10 cents

* 6.4 pct stake offloaded at 0.328 euros per share

* Fairfax's Watsa says no plans to sell more stock

* Govt says strategy remains unchanged on 14 pct stake

By Padraic Halpin and Laura Noonan

DUBLIN/LONDON, March 4 (Reuters) - Two of Bank of Ireland's largest shareholders, who helped keep it out of state hands at the height of the euro zone debt crisis in 2011, more than tripled their money when they sold part of their stake on Tuesday.

Wilbur Ross and Fairfax Financial sold a combined 6.4 percent stake at just below 0.33 euros per share.

Billionaire investor Ross and Fairfax boss Prem Watsa, who owned almost 18 percent of the bank before the sale, were among a group of North American investors who bought a 35 percent stake only months after Ireland signed up to an EU/IMF bailout.

Fairfax said it did not plan any further reduction to its stake in the country's biggest lender, while Ross could not be reached for immediate comment.   Continued...