Vol. 538 No. 4
51 Mr. J. O'Keeffe asked the Minister for Public Enterprise the amount paid to date to the 12 advisers engaged in connection with the Aer Lingus IPO; and the estimated amounts payable to such advisers on completion of the IPO. [17968/01]
The amount paid to date to the advisers engaged to assist in the preparations of the Aer Lingus IPO is £701,561, excluding VAT. The contracted fee with the financial advisers-global co-ordinators is based on a percentage of the IPO proceeds while the fees for the other contracts are based on contracted amounts. It is not possible to estimate the total amounts payable to the advisers on completion of an IPO as this would be determined by the structure and the valuation of Aer Lingus at the time of the offer.
In the event that the IPO does not take place, all the contracts provide for payments in respect of work completed.
