Sunday 19 November 2017

n Sunday Telegraph

Waterford Wedgwood is being circled by private equity buyers after its US owners put the 25-year-old crystal and china company up for sale.

Private equity firms including Searchlight Capital, Cinven and Pamplona Capital Management are said to have expressed an interest in the Irish glass business. Advisers at Goldman Sachs are running an auction process for the company and are said to also be drumming up interest from potential Chinese buyers. Water Wedgwood collapsed under the weight of its debt six years ago and was snapped up for just €107m by New York investment firm KPS.

n Sunday Independent

Animal nutrition business Alltech could be worth "between $2.5bn to $3bn" following its latest growth spurt, according to Dundalk founder Pearse Lyons. The valuation follows a jump in revenue to "comfortably over $1bn", Mr Lyons said. It would make Alltech one of the largest privately owned Irish companies in the world.

It has just inked a deal to buy carbon footprint assessment firm 3CO2. The company is looking at four or five other acquisitions, Mr Lyons added.

n Sunday Business Post

Finance Minister Michael Noonan will travel to London this week to meet potential investors in AIB and Permanent TSB. Mr Noonan is due to speak to City analysts and investors at the London headquarters of Bloomberg. Past trips to London and other financial capitals were used to drum up support in advance of Ireland returning to the bond markets. It is understood the Department of Finance is spending increasing amounts of time on a plan for Permanent TSB to fill an €850m capital hole after it failed the European Central Bank's stress tests last year. It has a deadline of June to raise the capital.

n Sunday Times

hedge fund investors who purchased Nama bonds from the special liquidator of IBRC less than six months ago are sitting on profits topping €200m.

The Nama bonds surged in value last week after the agency announced it would be paying interest on the debt instrument for a second consecutive year. The identity of the purchasers of the bonds has never been publicly revealed but it is understood they included US funds CarVal and BlueBay.

n Wall Street Journal

ALREADY popular among teenagers, YouTube is releasing a new app for children.

The app from Google's online video service will run on smartphones and tablets, is expected to be free and will be separate from the mainstream YouTube mobile app.

The app won't be available, at least initially, for Apple's iPad.

Irish Independent

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