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:

Cerberus retained the services of NewRiver Retail, which is a retail specialist. Cerberus would have felt that retaining NewRiver Retail after PIMCO had withdrawn would have added value because it would have had views on the market place and been familiar with the real estate. I imagine that NewRiver Retail would have been in possession of some information for which Cerberus would have been happy to pay.

As Mr. Stewart stated, the information that was downloaded from the data room could not, under the NDA, be shared afterwards with a third party. There were restrictions on advisers but they would have been retail specialists and had considerable in-depth knowledge of the market and where these assets were located. Cerberus is probably the only one that can answer the question.

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