Oireachtas Joint and Select Committees

Tuesday, 18 October 2016

Public Accounts Committee

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

10:00 am

Mr. Brian McEnery:

As I said in reply to Deputy Shane Cassells, we absolutely believe that because it was looked at on more than one basis, whether it was the figure of £1.6 billion that was discounted using a conservative discount factor or whether the 5.5% discount rate was used and then 10% was knocked off by virtue of enforcement costs, etc. It was all pointing to the fact that if we received £1.3 billion, we were going to do a good job in the realisation.

I can say, absolutely hand on heart, that I believe we did a very good job in the sale of Project Eagle and got the best price.

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