State Street eyes Bank of Ireland unit – report

Aug 27 (BestGrowthStock) – State Street Corp (STT.N: ), an asset
management and custody firm, is in talks to buy Bank of
Ireland’s (BKIR.I: ) asset management business, Bloomberg said on
Friday, citing three people familiar with the matter.

No agreement has been reached for the unit, which manages
about 25 billion euros ($31.8 billion) of assets as of April 16,
the agency said.

However, a sale of the unit may take months, two people told
the agency.

Carolyn Cichon, a State Street spokeswoman, and Dan
Loughrey, a Bank of Ireland spokesman, declined to comment to
Bloomberg.

Neither could immediately be reached for comment by Reuters
outside of regular U.S. business hours.
($1=.7864 Euro)
(Reporting by Sakthi Prasad in Bangalore; Editing by Mark
Potter) (([email protected]; within U.S. +1 646
223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

State Street eyes Bank of Ireland unit – report