To assist in the performance of the Minister for Finance’s functions, the Department of Finance has issued this invitation to tender for the establishment of a framework for the provision of: (i) capital markets, strategic, M&A advice; (ii) general financial advice; and (iii) capital markets distribution services to the Department of Finance. The Department may require advice in connection with the State’s various investments in the banking sector, interests in the financial services industry in general, and in the carrying out of the Department of Finance’s functions.
Deadline
The time limit for receipt of tenders was 2022-08-17.
The procurement was published on 2022-07-14.
Suppliers
The following suppliers are mentioned in award decisions or other procurement documents:
Object Scope of the procurement
Title: Department of Finance Financial Panel ITT
Products/services: Investment banking services and related services📦
Short description:
“To assist in the performance of the Minister for Finance’s functions, the Department of Finance has issued this invitation to tender for the establishment...”
Short description
To assist in the performance of the Minister for Finance’s functions, the Department of Finance has issued this invitation to tender for the establishment of a framework for the provision of: (i) capital markets, strategic, M&A advice; (ii) general financial advice; and (iii) capital markets distribution services to the Department of Finance. The Department may require advice in connection with the State’s various investments in the banking sector, interests in the financial services industry in general, and in the carrying out of the Department of Finance’s functions.
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Estimated value excluding VAT: EUR 2 250 000 💰
Information about lots
Tenders may be submitted for all lots
1️⃣ Scope of the procurement
Title: Capital Markets, Strategic, M&A Advice
Title
Lot Identification Number: 1
Description
Additional products/services: Financial and insurance services📦
Additional products/services: Banking and investment services📦
Additional products/services: Financial consultancy, financial transaction processing and clearing-house services📦
Place of performance: Éire/Ireland🏙️
Main site or place of performance: Baggot Street, Dublin 2
Description of the procurement:
“Assist in the structuring and execution of a sale process to ensure the State achieves optimal execution in the context of a sale of securities by firms...”
Description of the procurement
Assist in the structuring and execution of a sale process to ensure the State achieves optimal execution in the context of a sale of securities by firms appointed under Lot 3, including shares and equity linked products, and including formulation of trading plans.
In the context of formulation of the Department of Finance’s privatisation strategy, executing strategic transaction(s) and general policy making with regard to the banking sector.
This role may also include, but is not limited to, strategic and corporate finance advisory (e.g. industry expertise, mergers and acquisitions, valuation, transaction structuring, capital management and capital structure advisory).
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Price is not the only award criterion and all criteria are stated only in the procurement documents
Duration of the contract, framework agreement or dynamic purchasing system
The time frame below is expressed in number of months.
Description
Duration: 36
Duration of the contract, framework agreement or dynamic purchasing system
This contract is subject to renewal ✅ Description
Description of renewals: Annual renewal
2️⃣ Scope of the procurement
Title: General Financial Advice
Title
Lot Identification Number: 2
Description
Place of performance: Ireland🏙️
Description of the procurement:
“Provide general advice to meet the future needs of the Department of Finance relating to proposals/new developments, due diligence, modelling or analysis in...”
Description of the procurement
Provide general advice to meet the future needs of the Department of Finance relating to proposals/new developments, due diligence, modelling or analysis in the financial services and other sectors. Engagements may include, but are not limited to, accounting, taxation, strategic, valuation, restructuring, remuneration, governance, regulation, compliance, and risk.
3️⃣ Scope of the procurement
Title: Capital Markets Distribution Services
Title
Lot Identification Number: 3
Description
Description of the procurement:
“Bookrunner(s) to participate in the sale and distribution of securities (inter alia shares and equity linked structured products) including by way of a...”
Description of the procurement
Bookrunner(s) to participate in the sale and distribution of securities (inter alia shares and equity linked structured products) including by way of a trading plan. The Department of Finance reserves the right to appoint one or more Bookrunners as Global Co-ordinators at the time of a transaction if required.
Procedure Type of procedure
Open procedure
Information about a framework agreement or a dynamic purchasing system
Framework agreement with a single operator
Administrative information
Time limit for receipt of tenders or requests to participate: 2022-08-17
11:00 📅
Languages in which tenders or requests to participate may be submitted: English 🗣️
Conditions for opening of tenders: 2022-08-17
11:00 📅
Complementary information Review body
Name: David Tuohy
Postal address: Block 1, Miesian Plaza, Baggot Street
Postal town: Dublin 2
Country: Ireland 🇮🇪
Phone: +353 16045343📞
E-mail: david.tuohy@finance.gov.ie📧
Source: OJS 2022/S 137-392191 (2022-07-14)
Contract award notice (2022-10-18) Object Scope of the procurement
Total value of the procurement (excluding VAT): EUR 2 250 000 💰
Information about lots
This contract is divided into lots ✅ Award criteria
Quality criterion (name): Quality of Offering
Quality criterion (weighting): 25%
Quality criterion (name): Quality of team
Quality criterion (weighting): 20%
Quality criterion (name): Strength of resources
Quality criterion (weighting): 15%
Quality criterion (name): Understanding of Irish banks and Department of Finance priorities
Price (weighting): 20%
Quality criterion (weighting): 35%
Quality criterion (weighting): 30%
Quality criterion (name): Strength of equity capital markets franchise
Quality criterion (name): Quality of team and Strength of Resources
Procedure Information about framework agreement
The procurement involves the establishment of a framework agreement
Administrative information
Previous publication concerning this procedure: 2022/S 137-392191
Award of contract
1️⃣
Lot Identification Number: 1
Title: Capital Markets, Strategic, M&A Advice
Date of conclusion of the contract: 2022-10-02 📅
Information about tenders
Number of tenders received: 10
Name and address of the contractor
Name:
“Bank of America BNP Paribas Citi Davy Deutsche Bank Goldman Sachs Goodbody JP Morgan Morgan Stanley Rothschild”
Postal town: London
Country: United Kingdom 🇬🇧
Region: London 🏙️
The contractor is an SME
Information on value of the contract/lot (excluding VAT)
Estimated total value of the contract/lot: EUR 2 250 000 💰
Total value of the contract/lot: EUR 2 250 000 💰
2️⃣
Lot Identification Number: 2
Title: General Financial Advice
Information about tenders
Number of tenders received: 5
Name and address of the contractor
Name: EisnerAmper Goodbody KPMG PWC
Postal town: Dublin
Country: Ireland 🇮🇪
Region: Ireland🏙️ Information on value of the contract/lot (excluding VAT)
Estimated total value of the contract/lot: EUR 2 250 000 💰
Total value of the contract/lot: EUR 2 250 000 💰
3️⃣
Lot Identification Number: 3
Title: Capital Markets Distribution Services
Information about tenders
Number of tenders received: 9
Name and address of the contractor
Name:
“Bank of America BNP Paribas Citi Davy Deutsche Bank Goldman Sachs Goodbody JP Morgan Morgan Stanley” Information on value of the contract/lot (excluding VAT)
Estimated total value of the contract/lot: EUR 2 250 000 💰
Total value of the contract/lot: EUR 2 250 000 💰
Complementary information Additional information
“The expected value of the contract is difficult to quantify given that the contract is a framework and the quantum of services to be drawn down is not...”
The expected value of the contract is difficult to quantify given that the contract is a framework and the quantum of services to be drawn down is not capable of being known. I used the total value of the contracts awarded under the previous framework.
As the form does not appear to allow the inclusion of the names of number of different successful tenderers, I listed all successful tenderers in one box under each lot.
While the above is not entirely satisfactory, the form does not appear to be designed for frameworks where services to be delivered are unknown and the basis for charging same are also not known (in that there may be no mini-competitions or the rates charged may differ from those set out in tenders).
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Source: OJS 2022/S 204-581854 (2022-10-18)