Oireachtas Joint and Select Committees
Thursday, 14 December 2017
Public Accounts Committee
2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation
9:00 am
Mr. Des Carville:
A huge amount of work is done behind the scenes for a decision like that. There are at least ten material checkpoints, which must be passed. Everything leads to one word; "valuation". That is the only thing that matters. We start with the programme for partnership Government, which gave us permission to sell up to 25% plus the over-allotment option, which was the extra circa 4% we sold. That gives us 29%. That is a standard feature of a deal like this on the capital markets . About ten different items were involved. I will give the Deputy the list very quickly, because it really-----
No comments