NAMA statement on C&AG report

20 Mar 2020

NAMA statement on C&AG report


Thursday 19 March


  • The report [page 11] confirms that NAMA made an overall profit of €68m on the sale of the Avestus portfolio. 


  • The report [pages 49 to 54] sets out NAMA’s position that the Project Nantes disposal obtained the best value for the State achievable at that time and includes [on page 53] NAMA’s calculations that support this analysis.


  • The report [page 14] also states there would have been no guarantee that a better outcome could have been achieved if NAMA had set a higher target price for these loans. 


  • By achieving €210m from the Avestus loans, NAMA significantly exceeded the acquisition cost of €124m. 


  • The report [page 46] concludes that there is no reason to believe that there was any infringement of section 172 of the NAMA Act.



Issued on behalf of NAMA by Gordon MRM

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