Saturday September 19, 2020

Nama loses €200m on Northern property book

Nama, the state's toxic debt agency, lost €200 million on the sale of its entire Northern Ireland property book, it can be revealed.

22nd June, 2014

Nama, the state’s toxic debt agency, lost €200 million on the sale of its entire Northern Ireland property book, it can be revealed.

The Sunday Business Post has established that Nama sold the loans to Cerberus Capital Management for €400 million less than the discounted price it paid the banks to acquire the same loans at the height of Ireland’s banking crisis.

But the overall loss to the state was mitigated...

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