Oireachtas Joint and Select Committees

Tuesday, 22 November 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. Patrick Long:

In so far as financing is concerned Fortress may not have specified how it was proposing to finance it, but the clear inference from the letter it wrote to the committee recently was that its bid was priced on the basis that it would be entirely in cash. I do not believe it is particularly significantly that Fortress did not allocate its bid on an asset by asset basis. To me the most important difference between the Fortress and Cerberus bids was the price. Clearly, there is a big difference.

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