Dessie Ellis
Question:63 Deputy Dessie Ellis asked the Minister for Finance the names of the private investors who purchased the Irish Life and Permanent shareholding in the National Asset Management Agency. [25641/12]
View answerWednesday, 23 May 2012
Questions (64)
Written answers
The NAMA SPV was established with Eurostat approval and with Irish Life as one of the private owners. However, as Irish Life is now in public ownership, Eurostat attached a reservation to our Maastricht Returns in which it raised concerns about the private sector ownership of the NAMA SPV and consequently the treatment of NAMA for the purposes of calculating General Government Debt. I am advised that the sale of the Irish Life shareholding in the NAMA SPV to private investors has been agreed and it is anticipated that the transaction will be completed in the coming weeks. As a consequence, we expect that the General Government Debt treatment of the NAMA SPV will be unchanged.
I have been in touch with NAMA about the identity of the new private investors in the NAMA SPV and I am satisfied that the new private investors will satisfy Eurostat's requirements.
The identity of the new private investors will be made public in due course when the deal is completed.