Cabinet didn't sign off Coillte deal with UK venture fund

Coiltte had agreed to sell 100,000 hectares of Irish forestry to a UK-based venture capital fund. Picture: Eamonn Farrell/RollingNews.ie

The controversial deal between Coillte and Gresham House, the UK-based venture capital fund, on the acquisition of 100,000 ha of forestry across the country, was not signed off by Cabinet, the Taoiseach Leo Varadkar told the Dáil.

Replying to a question from Deputy Denis Naughten, he said: “I confirm it was not signed off by Cabinet. Coillte is a State-owned enterprise, and its board makes its own decisions. There was no memo for information to Cabinet at any point.” The Taoiseach said he was aware of the concern up and down the country on the matter of Coillte and the Irish Strategic Forestry Fund.