Wednesday 17 January 2018

Media bites

The Sunday Times

GOLDMAN Sachs has linked with Tifco, a Dublin hotel group, in a bid for Bewley's hotel group, which is expected to sell for upwards of €450m.

The US investment bank is understood to be supportive of an expansion strategy at Tifco, owned by businessmen Aidan Crowe and Gerry Houlihan.

Tifco already owns six hotels, including the Clontarf Castle hotel in Dublin, and operates eight others.

The Sunday Telegraph

INTERNATIONAL Airlines Group is clearing a flight path towards paying its first dividend since its creation in 2011 through the merger of British Airways and Spain's Iberia.

Headed up by Willie Walsh, the airlines giant, which has also swallowed up bmi and Spanish budget carrier Vueling since its formation, is expected to set out a road map towards its first payout to shareholders at a capital markets day on November 7.

Sunday Independent

Television legend Gay Byrne and one of Ireland's richest men, pharma tycoon Seamus Mulligan, have launched a lawsuit against Deutsche Bank over loans related to a €15m prime property in London's West End.

The Mayfair building is the London headquarters of fashion giant Moschino.

The Sunday Business Post

Bank of Ireland is hoping to generate more that €140m from the sale of Project Venus, a portfolio of 1,000 buy-to-let properties that will be put up for sale tomorrow.

Savills, the estate agent, is guiding €143m for the portfolio, which consists of residential investment properties scattered throughout the country, according to documents obtained by the newspaper.

The New York Times

The rise of Bank Rossiya, controlled by close friends of President Vladimir Putin of Russia, illustrates how he has enriched loyalists whose influence over the economy has helped him maintain his iron grip on power.

Bank Rossiya is emblematic of the way that Mr Putin's brand of crony capitalism has turned loyalists into billionaires whose influence over strategic sectors of the economy has in turn helped him to maintain his iron-fisted grip on power.

Now the western sanctions are testing the resilience of his economic and political system.

Irish Independent

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