Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

65. To ask the Minister for Finance further to Parliamentary Question No. 122 of 12 February 2025; the total value of all invoices paid to a company (details supplied) in relation to the 24-month contract for them to operate as the Department’s independent advisor on the State’s banking assets; and if he will make a statement on the matter. [6746/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I have been advised by the NTMA that since 24th March 2023 (the start date of the current 24 month contract), they have paid a total of €1,130,042 to Rothschild & Co. for work undertaken as independent financial advisor to the Department of Finance. This amount covers work undertaken on six separate successfully completed share sale transactions.

It is important to note that there is no cost to either the Department of Finance or the NTMA in relation to the fees paid to Rothschild & Co. for their work as financial advisor to the Department of Finance as these fees are recoupable from the bank that each transaction relates to. This is allowed for as per the terms of the recapitalisation agreements that are in place between the State and the various financial institutions which were recapitalised by the State.