Dáil Éireann Debate, Thursday - 3 December 2009
57 Deputy Aengus Ó Snodaigh asked the Minister for Finance the position regarding the special purposes vehicle proposed in the establishment of the National Asset Management Agency; if he has identified directors for the SPV; when he envisages that the SPV will commence; and if he will make a statement on the matter. [44901/09]
View answerIt is envisaged that the NAMA Master SPV will be set up shortly after NAMA is established. It will be jointly owned by private investors, who will own 51% of its ordinary equity, and by NAMA, which will hold the remaining 49% ordinary equity.
The Master SPV will have its own Board, with members appointed by NAMA and possibly members appointed by the private sector equity investors. The directors of the SPV are likely to include NAMA Board members and NAMA Officers.
