Ivor Callely
Ceist:367 Mr. Callely asked the Minister for Finance the position of the persons he has appointed to advise him of the merger and floatation of the TSB and ACC banks; and if he will make a statement on the matter. [17275/99]
Written Answers. - ACC and TSB Banks.
I announced on Thursday, 27 May 1999 that I had, on the advice of my Department and following a tender process, appointed IBI Corporate Finance Limited and Davy Stockbrokers in associated with Donaldson, Lufkin & Jenrette International as my financial advisers and Arthur Cox, solicitors, as my legal advisers for the merger and flotation of ACC and TSB Banks. I advised the House of these appointments on 1 June 1999, in the course of responding to a question from Deputy Richard Bruton, and the position of my advisers in this matter is unchanged since then.
However, I would like to refer Deputies to the brief debate on these appointments which took place on foot of my reply to a question from Deputy Séan Ryan on 24 June 1999.
In reply to a supplementary question from Deputy Derek McDowell, I may have given the impression that lead brokers had not been appointed. The position is that lead brokerage services are to be provided by financial advisers whom I have appointed, but that the underwriting contract has not been agreed with them and will only be concluded closer to the date of flotation.
Deputies may wish to note that I wrote to Deputy McDowell on 29 June 1999 advising him of the position.