Written answers
Thursday, 20 January 2011
Department of Finance
Financial Services Sector
5:00 am
John O'Donoghue (Kerry South, Fianna Fail)
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Question 82: To ask the Minister for Finance his views on the purchase of Goodbody Stockbrokers by a Kerry-based company (details supplied); if he has had contact with either of the parties involved in the deal; and if he will make a statement on the matter. [3112/11]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The sale of Allied Irish Banks' (AIB) entire shareholding in Goodbody Holdings Limited, including Goodbody Stockbrokers, was part of a strategic decision taken by the board of AIB to raise capital by the disposal of certain assets. This capital raising was necessitated by the bank having to meet set capital adequacy requirements as dictated by the Central Bank. I have had no involvement in the sale process. For the information of the Deputy, the acquisition of the Group by the named company was approved by the Central Bank on 24 December 2010, under the relevant regulations. The transaction was completed on 7 January 2011.
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