Citigroup agreed to acquire a 13.9% stake in the Bank of Ireland from the Government of Ireland for $807m. "Today's announcement marks the start of a phased exit from the state's remaining investment in Bank of Ireland. When all cashflows are taken into account the taxpayer has already recorded a surplus on its investment in and support for the bank, even before the sales of these shares are accounted for," Paschal Donohoe, Minister for Finance of Ireland.