US investor uses Ireland as hub for distressed property assets from across Europe
Lender sells block of non-performing loans to Cerberus unit at 40% discount to face value
Seen and heard: Sunday papers also report Government efforts to tackle insurance costs
US private equity this month agreed deal to acquire a €1bn portfolio from AIB
Portfolio is mostly made up of buy-to-let loans across 5,000 assets
Cerberus also among potential buyers of portfolio of mortgages and business loans
Loan book of €3.2bn expected to be put on market at discount in final quarter of 2018
Business Week: Vulture funds, housing and corporate struggles fill the headlines
Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk
More than half of the portfolio includes buy-to-lets with average arrears of €32,000
America’s oldest gunmaker announced in February it will transfer control of the company to creditors
President gave in after accepting that ‘big military’ approach was needed to protect US
US indexes boosted by retailers; Iseq’s big movers are Ryanair, Total Produce and Reits
Cerberus Capital and American Eagle working on joint bid for teen apparel retailer
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