Dail reply to question from Denis Naughten on the progress to date on securing investor at MBNA site in Carrick on Shannon

In Business & Jobs by Denis Naughten

DAIL QUESTION

NO. 14

To ask the Minister for Jobs, Enterprise and Innovation the progress made to date on protecting employment at a company (details supplied) in County Leitrim; and if he will make a statement on the matter.

– Denis Naughten.

For ORAL answer on Wednesday, 29th February, 2012.

Bank of America
Ref No: 11406/12

R E P L Y

Minister for Jobs, Enterprise and Innovation (Mr. Bruton)

I am informed that the process regarding the sale of Bank of America’s Irish and UK credit card businesses is ongoing.

I took the opportunity of my recent visit to New York to raise the issue with the CEO of Bank of America, Brian Moynihan who confirmed this position.

As I have previously indicated, there is considerable interest in both the MBNA Ireland portfolio and the MBNA UK portfolio, the potential sale of each is being pursued separately by Bank of America.
Negotiations regarding the sale of the MBNA Ireland portfolio are continuing.
I understand that IDA has met the relevant parties, is monitoring the situation closely and is providing relevant input into the process as it moves forward. IDA is in regular contact with local Bank of America management in Carrick-on-Shannon and Dublin and at corporate level to monitor developments.
Separate to the above, IDA has been and continues to market Carrick-on-Shannon and the BOA MBNA capability there to other potential investors, should the above negotiations fail to lead to a positive outcome.
This has included creating a detailed profile/factfile in conjunction with BOA MBNA management to highlight the skillset, experience and facility in Carrick-on Shannon. This profile is being used by IDA’s international network of offices to market both the centre itself and the location.