INM should sell Citywest plant and outsource printing to rival, says EY
Seen & Heard: Investors set to short Greencore, One4All owner GVS close to being sold
EY has recommended that INM sell its printing plant in Citywest
The Sunday Business Post, which has seen EY’s report, also said the consultancy giant told INM it has a “can’t-do mentality”.
The same paper reports that Gift Voucher Shop (GVS), the operator of the One4all card scheme, is on the brink of being acquired for an estimated €110 million.
Elsewhere, the newspaper says Dublin-headquartered Greencore is a top pick for short sellers betting its share price will fall.
In addition, the paper carries a report that Web Summit chief executive Paddy Cosgrave is behind a new $50 million investment fund.
Irish pension cash
Private equity firm Lone Star is considering floating as part of its strategy for building out its Irish assets, according to a report in the Sunday Independent.
The same paper estimates that €1 billion of Irish pension cash is tied up in Italian bonds, the price of which has wobbled in recent days due to political instability.
The newspaper said German bank Sparkasse is weighing up establishing a community-based, not-for-profit scheme here to deliver cheap mortgages and loans.
Staying with aviation, The Sunday Independent says Ireland West airport is looking for additional EU funding to revamp its runway.
Irving Oil, the owner of the Whitegate refinery in Cork, is close to sealing a deal to acquire fuel group Top Oil. The company has a network of 180 fillings stations and a fuel import facility, The Sunday Times reports.
The paper also reveals that housebuilder Gleveagh Properties in in talks to buy the former Ford motor distribution site in Cork for close to €15 million.
The Sunday Times claims IBRC is to take a possible €60 million hit as it starts to pay back customers who were overcharged by Anglo Irish Bank.
According to the same newspaper, Broadhaven, a lender backed by Bain Capital, is behind the sale of 30 Georgian properties in Dublin 6.
Staying with property, the newspaper said Pepper Money is to relaunch its mortgage range this week with the introduction of fixed-rate loans.
In addition, it reports that under new plans from the Central Bank of Ireland, lenders will soon have to explain to customers how they have the right to sell mortgages to another provider.
It adds that the owner of fashion chains Monsoon and Accessorize cut hundreds of jobs last year as it closed 18 shops in Britain.