Bono jumps on whiskey bandwagon as Tetrach eyes €400m floatation

Seen and heard: Nama to sell John Player site as Marlet to build 1,000 units in Tallaght

The Sunday Times says U2 frontman Bono is teaming up with Paddy McKillen to develop a €50 million whiskey distillery and visitor centre in Co Kildare. Photo: Ludovic Marin/AFP/Getty

The Sunday Times says U2 frontman Bono is teaming up with Paddy McKillen to develop a €50 million whiskey distillery and visitor centre in Co Kildare. Photo: Ludovic Marin/AFP/Getty

 

Property investment group Tetrach Capital is lining up for a €400 million flotation, according to the Sunday Times. The newspaper reports that the company plans to use the IPO proceeds to acquire seed assets and finance its development portfolio.

Staying with property, the paper reports that Marlet is advancing plans to build more than 1,000 apartments in a single development in Tallaght, Dublin 24.

Seperately, the Sunday Times claims U2 frontman Bono is teaming up with Paddy McKillen to develop a €50 million whiskey distillery and visitor centre in Co Kildare.

Accoring to the newspaper, tech entrepreneur Cyril McGuire, his brother Vivian and businessman David Sharpe have gained £90 million (€100 million) from the sale of PCTI Technologies.

Lastly, the Sunday Times reports that Mark Bourke, AIB’s chief financial officer, is believed to be taking up a role at Portuguese bank Novo Banco. Bourke announced his departure from AIB earlier this month.

Both the Times and the Sunday Business Post report on a new VC fund from former Dragon’s Den star Sean O’Sullivan.

The Sunday Business Post also carries a report claiming the former John Player factory site in Dublin 8, is expected to be sold by the National Asset Management Agency (Nama) to a private developer for €90 million in order to build over 600 new homes.

The paper says film director John Boorman is backing plans for a new €35 million film studio in Co Meath.

Elsewhere, it reports comments from Malin’s chief executive Adrian Howd, in which he says the investment fund will not need to raise additional capital.

Serial entrepreneur and former BBC Dragon’s Den star James Cann has unveiled his first investment in Ireland with Dublin recruitment firm 360 Search. The Sunday Independent reports.

The newspaper also carries news that international investors deployed over €500 million in Ireland’s residential investment market in the first half of 2018.

According to the Sunday Independent, New York’s largest health provider Northwell is to complete deals with three Irish medtech start-ups Technopath, i360 and Salaso.

An investment company owned by Artzta activist shareholder Gregor Joos was only set up last month, the paper reports.

Bitcoin investors could face a fresh round of selling pressure as a collapse Japanese cryptocurrency exchange is forced to pay coins worth $1 billion, the Sunday Telegraph reports.

The newspaper also says pressure is mounting on stationary chain Paperchase as insurers pull cover for suppliers amid concerns over its finances.