Fairfax, Ross' Bank of Ireland share sale covered: source


DUBLIN (Reuters) - Fairfax Financial (FFH.TO) and Wilbur Ross received sufficient bids to sell a 6.4 percent stake in Bank of Ireland (BIR.IR) on Tuesday at a discount of up to 10 percent of Monday's closing share price, a source familiar with the transaction said.

The investors, who own almost 18 percent of the bank between them, began selling the combined stake in the country's largest lender earlier on Tuesday, the placing's bookrunner Deutsche Bank (DBKGn.DE) said.

The bookbuilding was covered by 1145 GMT, the source said, at a guided price of around 0.33 euros, a discount of up to 10 percent on where it closed on Monday. The book was due to close at 1400 GMT, a second source said.

(Reporting by Padraic Halpin and Freya Berry, editing by Carmel Crimmins and Louise Heavens)

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