Vol. 510 No. 2
72 Mr. Stanton asked the Tánaiste and Minister for Enterprise, Trade and Employment the progress, if any, made in relation to the proposed sale of Irish Fertilizer Industries; and if she will make a statement on the matter. [22035/99]
Two indicative offers were received in response to the joint sale of 100 per cent of Irish Fertilizer Industries. However both the State and the other shareholder, ICI, were of the view that neither offer presented a sufficiently strong basis for proceeding further with the joint sale process. Subsequently, several other parties expressed a poss ible interest in IFI but no further indicative offers were received.
My Department is currently developing proposals in relation to both NET and IFI on the basis that the State will most likely retain its shareholding in IFI, at least in the short-term, until the fertilizer market recovers from current difficult conditions.
