Addleshaw Goddard has advised AIB on a £600m loan book sale to Allica Bank Limited.
The portfolio in question is made up of performing loans to UK-based small and medium sized businesses.
The sale was completed following a competitive process.
The AG team was led by Hugh Lauritsen and included Rosanna Bryant, Addi Spiers, Tom Crill, Emma Sadler and Jonathan Davies.
Lauritsen said: “This sale is a key part of AIB’s commitment to reduce costs and increase focus on the Corporate banking market. We are delighted to have been able to help AIB in this latest step in their overall corporate strategy.”
The transaction forms part of AIB’s overall corporate strategy to exit the SME market in the UK and instead focus on its growing Corporate Banking arm, which continues to be active across sectors including renewables, infrastructure, real estate, healthcare and manufacturing.