1,500 Dublin apartments to be pitched to institutional investors
Marlet Property Group, formerly New Generation Homes, plans to sell about 1,500 apartments under development to pension funds and other institutional investors in a deal that may be worth €450 million, according to The Sunday Times.
The company, which is backed by funding from UK money manager M&G, has hired Savills to market four prime Dublin residential developments to local and overseas investors, including one at Mount Argus in the south-city suburb of Harold’s Cross.
Dalata in talks with Deka Immobilien
The Sunday Times also reports that Dublin-listed Dalata Hotel Group is in talks with German property investment company Deka Immobilien about being involved in deals in the UK.
Dalata runs the Clayton Burlington Road hotel, which Deka took over last year, and the Irish company’s chief executive Pat McCann has said that both will do “lots of other stuff” together.
Tullow Oil veterans to float Explorer T5 Oil & Gas
Explorer T5 Oil & Gas has told shareholders that it plans to float on the Irish and London stock markets next month, the Sunday Independent reports.
The company, which was founded by a group of Tullow Oil veterans, has hired stockbroking firm Davy and London-based boutique investment bank Hannam & Partners to advise on the transaction. Its executive chairman, Pat Plunkett, previously chaired Tullow Oil and is currently non-executive chairman at Providence Resources.
Potential bidders eye Shell’s Corrib stake
The Sunday Business Post reports that as many as three potential bidders are running the rule over Shell's stake in the €3.6 billion Corrib gas field off the west coast of Ireland as the oil and gas giant moves ahead with a $30 billion assets sell-off.
While the Corrib stake has not been formally put on the market, the newspaper cites unidentified market sources as saying that a number of companies are looking at Shell’s 45 per cent interest, with Australian bank Macquarie said to be among them.
Windfarm assets attract attention
The Sunday Business Post also reports that a UK investment firm is eying a takeover of €300 million of wind farm assets being sold by Canadian firm Brookfield Renewable Partners. Brookfield acquired the assets as part of its €700 million acquisition of the wind farm business of Bord Gais Energy in 2014. The assets being sold make up almost a fifth of its Irish portfolio.
