Dáil Éireann Debate, Tuesday - 4 April 2017
167. Deputy Paul Murphy asked the Minister for Finance the cost that the expenses associated with an IPO of a bank (details supplied) will amount to; the cost of financial, legal, communications and auditing advisers; the amount that has been spent to date on each category; and if he will make a statement on the matter. [16213/17]
Amharc ar fhreagraAs the Deputy may be aware, in line with the State agreements with AIB, all fees incurred by the State in relation to any capital transaction will be paid by the bank.
Fees are only payable to the syndicate on the completion of a successful transaction, and are proportional to the value of the transaction. As such it is not possible to provide the exact quantum of fees that would be paid as no transaction has occurred. The fees that have been negotiated by my officials are very competitive by reference to comparable transactions. The number of banks appointed is within precedent and does not affect the overall fee level payable.
In addition to the syndicate banks, fees will be payable to legal and communications advisors, as well as our independent financial advisor. Details of the fees paid to these parties are disclosed under the procurement section of the Department's website: http://www.finance.gov.ie/publications/foi-publication-scheme/procurement/procurement.
