Dáil Éireann - Volume 616 - 07 March, 2006
Written Answers. - State Assets.
Mr. Bruton Mr. Bruton
370. Mr. Bruton asked the Minister for Transport his plans to publish a policy evaluation on the question of the sale of shares in Aer Lingus; and if the Government has appointed advisers to examine the issues independently of the advice being obtained by the management and board of the company. [8995/06]
Mr. Cullen Mr. Cullen
Mr. Cullen:In my reply to Questions Nos. 50 and 53, I have set out the reasons for the Government’s decision to dispose of a majority shareholding in Aer Lingus.
Following a competitive tender process, UBS and AIB Capital Markets were appointed to provide financial advice and assistance to both myself and the Minister for Finance in relation to an Aer Lingus sale or investment transaction. William Fry and Freshfields Bruckhaus Deringer were appointed as legal advisers for the assignment. I can confirm that these advisers are independent of the advisers appointed by the management and board of Aer Lingus.
The first phase of the advisers’ work was to recommend the most appropriate transaction mechanism and advise on the size and timing of a transaction. The advisers submitted their report before the end of last year and the key conclusions and recommendations are being considered by myself and the Minister for Finance. No decision has yet been made on the basis on which the investment transaction will be implemented.
 Question No. 371 answered with Question No. 151.
Question No. 372 answered with Question No. 91.
Dáil Éireann 616 Written Answers. State Assets.