Dáil Éireann Debate, Thursday - 24 May 2012
71 Deputy Sean Fleming asked the Minister for Finance the criteria that was applied for selection of a company (details supplied) as advisers on the sale of Coillte assets; if an interview of the prospective advisory candidates took place prior to there appointment; the remit of the advisers in relation to the sale; the timescale in which they have been asked to report; and if he will make a statement on the matter. [26068/12]
Amharc ar fhreagraI am advised by the NewERA Unit in the National Treasury Management Agency (NTMA), which advises the Government on the programme of State asset disposals, that no advisor has been appointed to advise on a potential sale of Coillte assets. As announced by the Minister for Public Expenditure and Reform on 22 February 2012, the Government has decided to pursue the sale of a number of State assets and to consider the possible sale of other State assets, including certain assets of Coillte. A separate sale process and timeline will apply to each individual transaction, which will, where appropriate, include the appointment of advisors. None of these processes is at a stage where procurement for the appointment of advisors has commenced.
Earlier this year, the NTMA, acting through its NewERA Unit, submitted an indicative valuation in respect of Coillte to the Government Steering Committee that is overseeing the potential disposal of State Assets. The NTMA engaged an adviser in relation to that valuation exercise following a competitive tender process. The scope of the services provided by that advisor to the NTMA was very limited, and did not extend to advising on a sale of Coillte's assets.
