..there must be a reason for this madness in transfering to ISIF, govt eliminates the 11 person board who previously oversaw these investments, there is direct oversight by the government, the govt will make every effort to recoup the 23b in loans ...AIB is also being positioned for an initial stock sale...aib has to get rid of that block of 500b shares which are of no use...they just dilute the share price and have no future purpose..
On the 24 December the National Pensions Reserve Fund Commission’s (NPRFC) transferred its total BKIR holding of 13.95% (shares and voting rights) to its new replacement fund, the Ireland Strategic Investment Fund (ISIF), and on the same day ISIF transferred the voting rights (only) of these same shares to NAMA (the National Assets Management Agency).
If so, what is the significance of this? It seems to suggest that while strategic investment decisions will be undertaken by one government agency, i.e. ISIF, control of the assets (voting rights) will come under another, i.e. NAMA. Is this just a ‘checks and balances’ thing or something else?
And why was the first transaction reported in London and the second in New York?
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