Ireland will explore further bank sales this year-fin min

Tue Feb 19, 2013 10:52am EST
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DUBLIN Feb 19 (Reuters) - Ireland will explore further sales this year of stakes and debts built up through rescuing its banking sector, the country's finance minister said on Tuesday after completing a second transaction in two months.

The government sold state-rescued insurer Irish Life to Canadian life insurer Great-West Lifeco for 1.3 billion euros ($1.7 billion), a month after a 1 billion euro sale of debt in part-owned Bank of Ireland.

"As we showed already, if we can redeem investments at par, we will redeem them... We will explore the possible sale of further tranches of these particular assets this year," Michael Noonan told a news conference.