asked the Minister for Energy if any outside consultants, advisers, accountants, stockbrokers, or other outside firm was engaged by his Department to value or assist in valuing the State's holding in Tara Mines, prior to the recent decision to sell the shareholding; if he will list any such outside firms used in this way; and the total fees, emoluments or expenses paid to any such companies.
Written Answers. - Valuation of State's Holding in Tara Mines.
209.
A corporate finance advisory firm was engaged by my Department to advise in the sale of the State shareholding in Tara Mines Ltd. As I stated in my reply to Dáil Question No. 42, tabled by Deputy Pat O'Malley on Thursday, 4 May last, no fee has been paid to the company in question to date. The amount payable will be equivalent to 1.5 per cent plus VAT of the value of the transaction which involves an initial payment to the State of US$37.5 million and a further US$12.5 million payable on a deferred basis.
No other outside firms were engaged by my Department in connection with this matter.