Ireland’s NAMA Approves More than 7 Billion Euros of Asset Sales
February 10, 2012, 4:16 AM ESTBy Joe Brennan
Feb. 9 (Bloomberg) -- Ireland’s National Asset Management Agency, established in 2009 to purge banks of risky real-estate loans, approved the sale of more than 7 billion euros of its debtors’ assets, the agency’s chairman said.
Recent Irish budget changes on stamp duty and capital gains, as well as clarity on commercial rent laws are “likely to give the market a substantial boost,” Frank Daly, NAMA’s chairman, said in an e-mailed speech today. “Although there is strong reason to expect that commercial prices will stabilize this year,” this is not certain, he said.
To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net
To contact the editor responsible for this story: Louisa Fahy at lnesbitt@bloomberg.net
