What it says in the papers: Business pages
Here are the main business stories from this morning's papers:
*Buyout fund Carlyle is reportedly eyeing up a possible takeover of TV3. Carlyle has teamed up with Irish fund Cardinal for a number of recent deals here, including the acquisition of Carroll Cuisine. The US firm is now tipped as a possible buyer of TV3 from Doughty Hanson, the private equity firm that currently owns the Irish broadcaster. Doughty Hanson has owned TV3 since 2006. The company recently announced that it has focus its efforts on “achieving strong exits”, meaning sales, from its investment portfolio rather than a raising fund to do more deals.
*Blarney Woollen Mills recorded ‘substantial’ earnings last year, according to the group director Robert Reardon. He also said the group is expecting to shortly strike a deal with its banks that will put the group ‘on a very strong financial footing’.
*Yields on a 10-year Greek debt rose to a record high in two yeas yesterday. The rise came amid fears the country is moving closer to default as it struggles to strike a fresh reform deal with lenders. The yield on the 10-year paper rose to 12.6pc.
*An Irish investment group has bought Clonmel Park Hotel in Tipperary. Tetrarch Capital acquired the leasehold t the 99-bedroom hotel.
*The Irish Examiner reports that the Aer Lingus sale decision is ‘imminent’. The discussions between the Government and the International Airlines Group over the potential sale of the State’s stake in the airline are drawing to a close.