Canaccord Genuity Hawkpoint advises Bank of Ireland on the sale of Burdale to Wells Fargo

The transaction will be effected by way of a sale of the entire issued share capital of Burdale Financial Holdings Limited ("BFHL"), the UK entity, to Wells Fargo International Banking Corporation ("WFIBC") and a sale by Burdale Capital Finance Inc. ("BCF"), the US entity, of its loan book to Wells Fargo Bank NA. 

Under the terms of the transaction, Bank of Ireland will incur an aggregate discount of c.£4.7 million on the combined net asset value of BFHL and the net asset value of the BCF loan book at completion. This discount equates to c.0.4% of Burdale's total loan commitments of c.£1.3 billion as at 30 November 2011 and c.0.8% of Burdale's total drawn balances of c.£575 million at the same date.

Back to Listing