Oireachtas Joint and Select Committees
Thursday, 24 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
Mr. Brendan McDonagh:
No. The facts are as follows. PIMCO wanted a closed process. It wanted to be the only bidder and for us to sell directly to it. The board would not agree to that. NAMA had a policy of opening a market wherever practicable. The board said that we knew PIMCO only wanted a closed process, but that it was in everyone's interests that this be subject to a wider range of bidders. PIMCO was not happy about that.
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