Bernard J. Durkan
Ceist:90 Mr. Durkan asked the Minister for Public Enterprise whether she intends offering any further State companies or agencies for sale; and if she will make a statement on the matter. [22014/99]
Written Answers. - State Companies.
I have said on several occasions that questions about the future ownership of commercial State companies fall to be determined on a case by case basis in the context of developments in their main business areas.
The Government has mandated myself and the Minister for Finance to initiate a process with the board of Aer Lingus and appropriate social partners to address the funding requirements of Aer Lingus and possible sources of such funding including an initial public offering. The process is under way and I will be submitting proposals to Government in due course.
With regard to Aer Rianta, the report submitted by that company on the future strategic direction of the Aer Rianta group as a whole, sought, inter alia, authorisation to prepare for an IPO. Advisers were appointed jointly by the Minister for Finance and myself to assist in the examination of Aer Rianta's report and to evaluate the full range of recommendations made by the board of Aer Rianta to me.
I expect to receive the advisers' report in the next week or so. Following that and in the light of consideration of their recommendations, I will bring specific recommendations to Government.
It would be inappropriate for me to comment on what the outcome of these processes might be prior to their completion.
In some other instances, the boards of the companies are considering broad strategies for their futures in liberalised markets. I expect that possible ownership change would be on the agenda in any such review. I await the results with considerable interest.
In the case of the Irish National Petroleum Corporation, as part of a Government decision of 23 February 1999 to approve an investment programme by the INPC to upgrade the Whitegate refinery, INPC were requested to actively pursue and report on the scope for other commercial opportunities to underpin the refining operation, including possible joint ventures or a strategic partnership in activities ancillary to, or having a synergy with, the refining business.
INPC are currently examining a number of possibilities for the business development of the company. I am prepared to consider these, including the possibility of the sale of equity in the company if a suitable partner can be found that advances INPC's overall aims especially the security of supply objective.
Changes in the postal sector across Europe and beyond require An Post to look at forming a strategic alliance with a suitable postal operator. This issue will be addressed in the near future by Government.