Ireland Department of Finance welcomes BNY Mellon
March 7, 2018

Ireland's Department of Finance has confirmed that the Bank of New York Mellon, London Branch has been selected as Preferred Tenderer for the provision of escrow agency and custodian services in connection with the alleged Apple State aid recovery process. This confirmation comes after the conclusion of the statutory European Union (EU) procurement standstill period that follows competitive tendering.

Over the coming weeks, the State and Apple will be working with the Preferred Tenderer to finalise the contract and operational arrangements for the escrow. Further information will be provided in due course.

A separate procurement process for investment managers for the recovery amount is currently in progress. Further information will be provided when the process has concluded. 

Both procurement processes are being conducted on behalf of the Minister for Finance by the National Treasury Management Agency (NTMA).  EU Procurement Rules require a 14-day standstill period post selection of Preferred Tenderer, during which time no contract can be concluded.





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Ireland's Department of Finance has confirmed that the Bank of New York Mellon, London Branch has been selected as Preferred Tenderer for the provision of escrow agency and custodian services in connection with the alleged Apple State aid recovery process. This confirmation comes after the conclusion of the statutory European Union (EU) procurement standstill period that follows competitive tendering.

Over the coming weeks, the State and Apple will be working with the Preferred Tenderer to finalise the contract and operational arrangements for the escrow. Further information will be provided in due course.

A separate procurement process for investment managers for the recovery amount is currently in progress. Further information will be provided when the process has concluded. 

Both procurement processes are being conducted on behalf of the Minister for Finance by the National Treasury Management Agency (NTMA).  EU Procurement Rules require a 14-day standstill period post selection of Preferred Tenderer, during which time no contract can be concluded.



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