Bidders could include Aviva, FBD, RSA, Allianz and Liberty
Anglo Irish Bank (AIB) confirmed it lodged an "expression of interest" in buying Quinn Insurance with Macquarie bank on Friday, the Irish Independent reports, listing other bidders as Aviva, FBD, RSA, Allianz and Liberty, plus private equity firms.
The sale will be complete before Christmas, the paper said. Macquarie will give selected parties more data in two weeks, from which they can make their final bids.
Anglo
"The bank is undertaking detailed work on a proposal designed to preserve and enhance value in Quinn Insurance and to maximise recovery of debts owed to the bank," AIB said.
"This is in the best interests of the bank and the taxpayer. Management will continue to liaise with the Financial Regulator and the Department of Finance during the process to keep them apprised of the bank's approach."
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