AIB Announces Proposed Disposal of the M&T Shareholding
(Thomson Reuters ONE) -
DUBLIN, Ireland (5 October 2010) - Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB]
announces that it has commenced the disposal process for its 22.4 per cent
shareholding in M&T Bank Corporation ("M&T") ("M&T Shareholding").
The disposal is subject to AIB shareholder approval, and is taking the form of a
public offering in the United States of 26,700,000 contingent mandatorily
exchangeable notes ("Notes") exchangeable for the shares of common stock of M&T
currently owned by AIB ("M&T Shares"). The Notes constitute AIB debt instruments
and investors will be issued one Note for each underlying M&T Share. The Notes
will be governed by New York law and listed on the New York Stock Exchange.
Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. are acting
as underwriters and joint bookrunning managers for the Notes offering.
Additional Information
AIB has filed a registration statement (including a prospectus) with the U.S.
Securities and Exchange Commission (SEC) for the offering to which this
communication relates. Before you invest, you should read the preliminary
prospectus supplement dated October 5, 2010, the accompanying prospectus dated
June 2, 2008 and the other documents we have filed with the SEC for more
complete information about AIB and this offering. You may get these documents
for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively,
AIB, any underwriter or any dealer participating in the offering will arrange to
send you the prospectus if you request it by contacting Morgan Stanley, 180
Varick Street #2F, New York, New York 10014, Attention: Prospectus Department
(email: prospectus(at)morganstanley.com), telephone 1-866-718-1649 or Citi,
Brooklyn Army Terminal, 140 58th Street, Brooklyn, New York 11220, Attention:
Prospectus Department, (800) 831-9146 (email: batprospectusdept(at)citi.com).
A further announcement will be made on pricing of the Notes.
This press release does not constitute an offer to purchase or a solicitation of
an offer to sell securities, nor shall there be any sales of these securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities law of such
jurisdiction. The distribution of this press release in jurisdictions other than
the United States may be restricted by law and therefore persons into whose
possession this press release comes should inform themselves about, and observe,
such restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities laws of any such jurisdiction.
For further information, please contact:
Alan Kelly Ronan Sheridan
General Manager, Corporate Services Group Press Officer
AIB Group AIB Group
Dublin Dublin
Tel: +353-1-6412162 Tel: +353-1-6414651
email: alan.j.kelly(at)aib.ie email: ronan.j.sheridan(at)aib.ie
The contents of this announcement should not be construed as legal, business,
financial, tax, investment or other professional advice.
Morgan Stanley & Co. Limited and AIB Corporate Finance Limited ("AIB Corporate
Finance") are acting as joint financial advisers to AIB in relation to AIB's
disposal of its M&T shares. In addition, Morgan Stanley & Co. Limited and
Morgan Stanley & Co. International plc are acting as sponsor and corporate
broker, respectively, in connection with the disposal.
Morgan Stanley & Co. Limited and Morgan Stanley & Co. International plc
(together, "Morgan Stanley") are acting in the aforementioned capacities for AIB
and no one else in connection with the disposal and will not regard any other
person (whether or not a recipient of this announcement) as Morgan Stanley's
client in relation to the disposal and will not be responsible to anyone other
than AIB for providing the protections afforded to clients of Morgan Stanley or
for providing advice in relation to the disposal or any other matter referred to
in this announcement.
Citigroup Global Markets Inc. is acting exclusively for AIB and no one else in
connection with the disposal and will not regard any other person (whether or
not a recipient of this announcement) as its client in relation to the disposal
and will not be responsible to anyone other than AIB for providing the
protections afforded to clients of Citigroup Global Markets Inc. or for
providing advice in relation to the disposal or any other matter referred to in
this announcement.
AIB Corporate Finance is acting exclusively for AIB and no one else in
connection with the disposal and will not regard any other person (whether or
not a recipient of this announcement) as its client in relation to the disposal
and will not be responsible to anyone other than AIB for providing the
protections afforded to clients of AIB Corporate Finance or for providing advice
in relation to the disposal or any other matter referred to in this
announcement.
Apart from the responsibilities and liabilities, if any, which may be imposed on
Morgan Stanley or AIB Corporate Finance by the Listing Rules, neither Morgan
Stanley nor AIB Corporate Finance accepts any responsibility whatsoever and
makes no representation or warranty, express or implied, for the contents of
this announcement, including its accuracy, completeness or verification or for
any other statement made or purported to be made by AIB, or on AIB's behalf, or
by Morgan Stanley or AIB Corporate Finance, or on Morgan Stanley's or AIB
Corporate Finance's behalf, in connection with AIB, the M&T Shareholding, M&T or
the disposal, and nothing in this announcement is or shall be relied upon as a
promise or representation in this respect, whether as to the past or future.
Each of Morgan Stanley and AIB Corporate Finance accordingly disclaims to the
fullest extent permitted by law and under the Listing Rules all and any
responsibility and liability, whether arising in tort, contract or otherwise,
which it might otherwise have in respect of this document and any such
statement.
None of the Minister for Finance, the Department of Finance, the Irish
Government, the National Treasury Management Agency, the National Pensions
Reserve Fund Commission or any person controlled by or controlling any such
person, or any entity or agency of or related to the Irish State, or any
director, officer, official, employee or adviser of any such person (each such
person, a "Relevant Person") accepts any responsibility whatsoever or makes any
representation or warranty, express or implied, for the contents of this
announcement, including its accuracy, completeness or verification or for any
other statement made or purported to be made by AIB, or on AIB's behalf, or by
Morgan Stanley or AIB Corporate Finance, or on Morgan Stanley's or AIB Corporate
Finance's behalf, or by any Relevant Person or on any Relevant Person's behalf
in connection with AIB, the M&T Shareholding, M&T or the disposal, and nothing
in this announcement is or shall be relied upon as a promise or representation
in this respect, whether as to the past or future. Each Relevant Person
accordingly disclaims to the fullest extent permitted by law and under the
Listing Rules all and any responsibility and liability, whether arising in tort,
contract or otherwise, which it might otherwise have in respect of this document
and any such statement.
This announcement contains "forward-looking statements", within the meaning of
Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of
the U.S. Securities Exchange Act of 1934 (as amended) regarding the belief or
current expectations of AIB, AIB's Directors and other members of its senior
management about AIB's business, and the transaction described in this
announcement. Generally, words such as "may", "could", "will", "expect",
"intend", "estimate", anticipate", "believe", "plan", "seek", "continue" or
similar expressions identify forward-looking statements. All statements other
than statements of historical fact are, or may be deemed to be, forward-looking
statements. These forward-looking statements are not guarantees of future
performance. Rather, they are based on current views and assumptions and involve
known and unknown risks, uncertainties and other factors, many of which are
outside the control of AIB and are difficult to predict, that may cause actual
results to differ materially from any future results or developments expressed
or implied from the forward-looking statements.
The forward-looking statements speak only as of the date of this announcement.
Except as required by the Financial Regulator, the Irish Stock Exchange, the
FSA, the London Stock Exchange plc or applicable law, AIB does not have any
obligation to update or revise publicly any forward-looking statement, whether
as a result of new information, further events or otherwise. AIB expressly
disclaims any obligation or undertaking to publicly release any updates or
revisions to any forward-looking statement contained in this announcement or
incorporated by reference to reflect any change in AIB's expectations with
regard thereto or any change in events, conditions or circumstances on which any
such statement is based.
[HUG#1449344]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 05.10.2010 - 22:10 Uhr
Sprache: Deutsch
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"AIB Announces Proposed Disposal of the M&T Shareholding"
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