Wilbur Ross, Carlyle Will Buy Ireland's Education Savings Bank

Investor Wilbur Ross will buy Ireland's troubled Education Savings Bank as part of a consortium with private equity outfit Carlyle and Dublin-based Cardinal Group.

The consortium will close the deal for the bank, which has about $15 billion in deposits, as soon as next week, Ross told CNBC.

The consortium will "buy the bank and pour capital into it", CNBC reported.

The Irish bank needs about 785 million euros ($1 billion) to meet capital requirements, CNBC said.

Ross expressed confidence in Ireland, saying the country is "getting their deficits under control, so eventually they'll reduce their debts."


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