Oireachtas Joint and Select Committees

Thursday, 13 October 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

We will raise the matter directly with NAMA. Considerable emphasis has been placed on the University of Ulster report today and we will seek a copy of it. I am conscious that Ulster Bank, Santander Bank and other entities may have contributed to the report and that, therefore, it may not be in NAMA's gift to provide a copy for the committee. However, we can ask for a copy.

On achieving value for money, the NAMA loan book was sold for approximately £1.25 billion, with approximately half of the assets relating to the loan book based in Northern Ireland. This means that approximately €600 million of the sale proceeds were related to assets in Northern Ireland. Is that correct?

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