Oireachtas Joint and Select Committees

Tuesday, 25 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. John Collison:

It is but we did not feel it conferred any material advantage. I suppose the other benefit of that was it definitely gave rise to a sort of proof of concept here. We felt that the initial offer was too high level. While it certainly merited investigation and further review, there needed to be more substance to it. We felt that providing them with further information, albeit on a limited basis, that they could then, I suppose, put more substance on their offer and that, in turn, then would inform our view as to whether, yes, this is an opportunity we should progress, and a proposal we should consider and bring to our board, and that, you know, would this present an opportunity in one fell swoop to potentially sell off this portfolio at a price that was acceptable to us.

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