UNITED KINGDOM

Wells Fargo Acquires Burdale; Bank of Ireland Continues to Deleverage Under Condition of EU-IMF Bailout

Bank of Ireland in Dublin
Wells Fargo & Co. (WFC) announced Monday the firm is expanding its international commercial finance capabilities through acquiring Burdale Financial Holdings Ltd and the portfolio of Burdale Capital Finance Inc. from Bank of Ireland Plc (BKIR). The portfolio represents approximately $1 billion in loans outstanding from U.S. and U.K. customers. Bank of Ireland, the nation’s largest bank, will receive about 690 million euros ($899 million) from the sale.
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