Mr. Frank Daly:

There are two elements to that. There is the vendor finance, which is standard practice in the market. We are getting a good return on the provision of such finance in this case. Vendor finance does many other things. It brings other people to the table. It helps to increase the competitiveness for one's assets and to increase the price. I have been before the committee when we have been questioned about where we sold on assets and then they increased in value but NAMA was out of it. Here is a commercial opportunity, therefore, to see if there is an upside to this that NAMA would continue to get a payback. I acknowledge the general point the Deputy is making but, at the end of the day, we are a commercial organisation and we are not going to take equity stakes in everything we sell but here was one. I can assure the Deputy we went through it in detail. The case came to be the board, went to a credit committee and went through a rigorous evaluation. The package at the end was a very good commercial outcome for NAMA.