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Thursday 8 December 2016

From hotels to pubs, healthcare to a glassworks -- and not forgetting the helicopter

Published 16/04/2011 | 05:00

FROM rubbish dumps to luxury hotels, there is almost no pie that Sean Quinn doesn't have a finger in. Quinn Group stated its fixed assets were worth €1.2bn in its most recently filed accounts.

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Many are high profile, like Dublin's Buswell's Hotel, English golf mecca The Belfry and the Slieve Russell Hotel in Cavan. A set of six Dublin pubs includes Drumcondra's Cat & Cage, and there's a pub in Cambridge in the UK.

The most high-profile assets are Quinn Insurance and Quinn Healthcare: the former is being sold to a joint venture of Anglo Irish Bank and US insurer Liberty Mutual, while Quinn Healthcare is for sale too, worth tens rather than hundreds of millions.

Many investors reckon the best of the group are the state-of-the-art industrial companies. There is a wind farm in Derrylin, Co Fermanagh, and a landfill site in Armagh.

Quinn radiators is a European leader, with its Welsh plant the biggest in Europe. The gravel business, based at Derrylin, includes factories making rooftiles, concrete and cement.

Quinn Glass has a €485m factory in England, bottling brands such as Bushmills, Britvic and Baileys, while Quinn Plastics has factories from Spain to Slovakia.

There's an Agusta 109 corporate helicopter which is also earmarked to be sold to pay off some of Quinn Group's loans.

Irish Independent

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