Pearse Doherty
Ceist:443. Deputy Pearse Doherty asked the Minister for Public Expenditure and Reform to list each State asset disposed of for each of the past five years and the value obtained for each disposal. [20800/16]
Amharc ar fhreagraTuesday, 12 July 2016
Ceisteanna (443)
Freagraí scríofa
In the context of the State Asset Disposal Programme agreed by Government in 2012 and implemented by my Department, four State assets were disposed of over the past 5 years, as follows:
- In November 2013, ESB completed the disposal of the first of two overseas assets - its 50% shareholding in Marchwood Power in the UK. The Exchequer received a dividend of €152.855 million in January 2014 arising from that transaction.
- In April 2014, ESB completed the second overseas asset disposal - its 50% shareholding in Bizkaia Energia in Spain, which produced a dividend for the Exchequer of €44.175 million.
- The sale of Bord Gais Energy completed on 30th June 2014 on the basis of a gross enterprise value of up to €1.1 billion, including a small element of contingent consideration. The actual purchase price paid to Ervia on completion of the sale was around €940 million, after certain adjustments to the gross enterprise value were taken into account including project finance debt related to the renewables business that transferred with the sale. A further small amount in relation to the contingent consideration still remains payable, depending on the future performance of the business and the achievement of certain milestones.
- The Government's 25.1% shareholding in Aer Lingus was acquired by IAG in 2015 for €335.273 million.
In addition to these asset disposals, over €400 million was also received from the sale of the National Lottery licence in 2014.