Oireachtas Joint and Select Committees
Thursday, 9 July 2015
Public Accounts Committee
National Asset Management Agency: Financial Statements 2014
9:30 am
Mr. Brendan McDonagh:
No. Due diligence costs a lot of money when it involves any portfolio, certainly when it involves a portfolio of this size. It is not unusual for people bidding on portfolios to spend €1 million, €2 million or €3 million on due diligence. If they do not win the portfolio, they are disappointed because they have spent so much money. That happens in big asset and big portfolio sales.