Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

No, we put a lot of money into it to recapitalise it. That was not the purchase price. That was the capital necessary to keep it going as a bank, and that is what it cost the State in terms of capital injection but it was not the market value.

Nobody was going to give €20 million for it. The problem was that nobody would give €20 for it at the time. Will we debate it? I will keep the Dáil informed. No decision has yet been made as to whether or not we are going for an IPO but I will keep Members informed every step of the way and we will see where the discussion leads.

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