Mike Bou-Nahra Explains the Sale of Mirab Building to P.U.C.
On Monday, we reported a leaked letter sent by the new Chairman of the Public Utilities Commission to attorney Andrew Marshalleck. Chairman Molina is seeking legal advice regarding a sale made by the previous P.U.C. board. It was the purchase of the old Mirab building for a little over ten million dollars. The 2019 purchase has raised eyebrows. As we previously reported, Pierre Bou-Nahra, then a P.U.C. commissioner, recused himself from meetings regarding the transaction. His brother, Mike Bou-Nahra, Chief Executive Officer of Boutros Bou-Nahra Company Limited, which owns Mirab, has gone on record to confirm that report. News Five has reached out to previous P.U.C. chairman John Avery about the sale, but he has not responded to our messages or calls. This afternoon, Bou-Nahra sat with the media to shed more light on the sale of three properties that comprised the transaction and how it was consummated.
Michael Bou-Nahra
Michael Bou-Nahra, Part Owner, Mirab & Company
“The building was for sale for the past year or so. I was contacted by one of the directors of the P.U.C. about the building and we had a meeting, we spoke about it and that’s when the negotiations started, probably couple months prior to the contract.”
Reporter
“Explain to us the interactions you had with the representatives of P.U.C. about their purchasing this asset.”
Michael Bou-Nahra
“We had a meeting, I gave them the pricing that they were interested in selling it at. It was agreed upon and they went back to their board. They had their meetings back and forth, we negotiated a few items and we agreed. That’s how we had the agreement on December fifth.”
Isani Cayetano
“Can you tell us if, and you will forgive my line of question if that’s so, but can you tell us if at all the connection between Pierre Bou-Nahra and this particular company and how the transaction came about in terms of P.U.C. negotiating to purchase the Mirab building?”
Michael Bou-Nahra
“My brother Pierre had nothing to do with the negotiation. Actually, he was not involved. I’m the C.E.O. of the company and I met with Mr. Kimano Barrow and the chairman of the P.U.C., Mr. Avery and we started the negotiations. The sign for sale was there and everybody, the whole world knew about it.”
Reporter
“Was your family member in any way interacted with this particular sale, given any sort of contacts, any sort of connections to the people you met with?”
Michael Bou-Nahra
“Not as far as I am concerned and no, he wasn’t involved in any of it.”
