Joe Costello (Dublin Central, Labour)
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Question 105: To ask the Minister for Finance the position on talks regarding the investment by a private equity firm (details supplied) into an building society; and if he will make a statement on the matter. [17232/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I have, as have my officials, on many occasions discussed the issue of private investment in the banks with the senior executives of the covered institutions. I have also had some discussions with representatives of potential investors and I understand that some covered institutions have also engaged in such discussions. I note the recent success of this strategy by the Bank of Ireland's placing to private institutional investors announced on Monday morning as well as a rights issue underwritten by the private sector.

I understand from the building society that they are in talks about a potential investment however these talks are at an early stage. The Deputy will appreciate that much of this information is received in confidence and is market sensitive and is a matter in the first instance for the institutions themselves. Finally the ability of a covered institution to undertake any transaction and the form of that transaction is heavily dependent on the restructuring plan for the institution. This is still at an early stage for this institution.