Monday, 16 April 2012

Irish Central Bank to Buy Anglo Irish Tower for $10 Million

Ireland’s central bank agreed to pay about 8 million euros ($10 million) for a half-completed Dublin office block that’s synonymous with the real-estate crash, according to a person familiar with the matter.

The bank will buy the building on North Wall Quay from the National Asset Management Agency, said the person, who asked not to be identified because the details are private. Anglo Irish Bank Corp. had planned to use the tower as its headquarters before the company’s collapse helped push Ireland toward the international bailout the country agreed in 2010.

“We don’t comment on speculation about individual transactions, but we’ve previously indicated that we are optimistic that we will secure a satisfactory deal in respect of this property in the medium term and that remains our position,” Ray Gordon, a spokesman for the asset management agency, known as NAMA, said by e-mail.

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