Bank Debt Restructuring

Dáil Éireann Debate, Tuesday - 12 February 2013

Tuesday, 12 February 2013

Questions (214)

Pearse Doherty

Question:

214. Deputy Pearse Doherty asked the Minister for Finance further to the statement by Permanent TSB, confirming that it was selling two operating units to management for nominal consideration, if he will provide an outline of the valuations undertaken by PTSB of the two units so as to ensure the sale price was adequate; if he will provide the sales, operating profit, impairments and net profit after tax for the two units for each of the past five years; and if he will further provide the balance sheet for each of the units at 31 December 2011. [6632/13]

Written answers

Minister for Finance

I am advised by Permanent TSB that the sale price achieved after a detailed process was recommended by the financial advisers and approved by the Boards of Permanent TSB Finance and Permanent TSB. I am informed by Permanent TSB that the remaining information sought is commercially sensitive. Permanent TSB advises that the financial impact of the sale will be reflected in the Annual Report due to be published in March of this year.