Dáil Éireann Debate, Tuesday - 12 May 2015
320. Deputy Bernard J. Durkan asked the Minister for Public Expenditure and Reform the full extent of the disposal of any State assets in the past ten years; the degree to which such disposals have been concluded; the benefit to the Exchequer; and if he will make a statement on the matter. [18663/15]
View answerPrior to this Government taking office, Aer Lingus was partially privatised in 2006 via an Initial Public Offering on the Irish and London Stock Exchanges. The partial sale yielded €241m for the Exchequer.
Under the State Assets Disposal Programme announced by this Government in February 2012, there have been three further asset disposals:
- ESB sold its 50% stake in two overseas assets, in the UK and Spain, yielding special dividends for the Exchequer of approximately €197m.
- In 2014, the sale of Bord Gáis Energy was completed, which is expected to yield net proceeds for the Exchequer of approximately €1 billion over the period 2014-2017. The special dividends will be paid to the Exchequer as required by Government, and in a prudent manner that protects Ervia's investment grade credit rating.
