Tuesday, 21 May 2019

Questions (544)

Joan Burton


544. Deputy Joan Burton asked the Minister for Communications, Climate Action and Environment if he plans to disclose the names of shareholders, equity owners in companies and other ownership vehicles linked to the consortium appointed as a favoured bidder in the national broadband plan; and if he will make a statement on the matter. [22001/19]

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Written answers (Question to Communications)

Granahan McCourt Dublin (Ireland) Limited and Tetrad Corporation are the investors responsible for providing all of the equity, working capital, performance related security and project deliverables.

NBI Infrastructure Limited, trading as National Broadband Ireland (NBI) is a new entity established by Granahan McCourt for the purposes of delivering the NBP. It is this company that will be the signatory to the NBP Contract.

The equity of NBI will be invested in NBI via a holding company as would be typical for projects such as this. The holding company will be wholly owned by Granahan McCourt Dublin (Ireland) Limited, subject to the Minister’s special share in NBI.

The majority (in excess of 95%) Shareholders of Granahan McCourt Dublin (Ireland) Limited are David McCourt and Walter Scott Junior whose shareholdings are held through Granahan McCourt Dublin LLC, Tetrad McCourt Investors LLC and Tetrad Corporation.