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Hamblin Watsa, the subsidiary named after Fairfax's founder,
Canadian billionaire Prem Watsa, will sell 415 million euros
worth of stock at 0.23 euros per share via a placement, Deutsche
Bank said, cutting its holding from 2.9 percent to around 1.5
percent.
Once the bank's second largest private shareholder after a group
of North American investors invested only months after Ireland
signed up to an international bailout, Fairfax bought its
original 8.7 percent stake when the shares were trading at 10
euro cents.
It previously cut it through placings at between 0.33 euros per
share and 0.36 cents in 2014 and 2015.
Bank of Ireland's share price has fallen sharply this year in
line with other European banks but has been on the rise since
October and had jumped a further 25 percent this month. The
price was down 5 percent at 0.23 euros by 0900 GMT on Friday.
Some of the other original investors have also sold down their
stock, including U.S. President-elect Donald Trump's pick for
secretary of the Commerce Department, Wilbur Ross, who cashed
out in 2014.
(Reporting by Padraic Halpin; Editing by Greg Mahlich)
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