Oireachtas Joint and Select Committees

Thursday, 17 November 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

Ms Éilish Finan:

I am happy to take the question up until the end of December 2013. It is a fact that at that meeting the decision that was posed was would we consider collaborating further with the opportunity, potentially, to combine the portfolio rather than sell it piecemeal. That was the decision and scope of that decision. It was noted in December 2012 that the actual figure appropriate for sale would be paused for further analytics and further discussion at the board. So there was a two-stepped approach. During October and the December meeting it was would we deem this opportunity to collectively sell the portfolio worthy of further investigation and consideration. The board was very happy strategically that that not only merited further discussion and consideration, but that actually it was incumbent on us to look at the opportunity and make sure were not asleep at the wheel or that we are not locked strategically into a work-out between there and 2020.

I do not feel I can comment on the ultimate value, subsequent to year-end.

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