Johnny Ronan, one of the founders of collapsed property development company Treasury Holdings, is close to raising €250 million to fund a "comeback" in the property industry in Ireland and Britain, according to the Sunday Independent .

The developer is planning to re-enter the market at the “high-risk, high-reward” end and the paper speculates that any profits from the venture would be used to pay down his significant Nama debts.

Targeting Muscle
The Sunday Independent also reports that Glanbia is in a "shoot-out" with US consumer foods group Post Holdings to buy the protein drink firm Muscle Milk, which would cost about €360 million.

Muscle Milk’s owner, TSG Consumer Partners, has hired Credit Suisse to offload the business, the report says. Glanbia faces “fierce competition” from Post Holdings, which, like Glanbia, has been on buying spree in the sector in recent years, to close the deal.

Noonan, Kelly to meet
Morgan Kelly, the UCD economist who recently warned that the European Central Bank would put the squeeze on Irish SMEs, has taken up Michael Noonan's offer to discuss his theory with the Central Bank in Dublin, says the Sunday Independent . The paper reports that officials in Dublin made contact with Kelly shortly after Noonan said Kelly "has to be taken seriously".

Cawley for Ostán
The Sunday Times reports that outgoing Ryanair deputy chief executive Michael Cawley is being lined up by Goodbody stockbrokers to promote a €70 million fund to buy hotels in the Irish market. Ostán Capital Partners is planning to raise capital from Irish and international investors to invest in Irish hotels. The report says Cawley will join Ostán following his departure from Ryanair at the end of this month.

Pensions row
Worker-directors at ESB refused to sign off on the company's annual report last week, the Sunday Business Post reports. It says the four board members, nominated by trade unions, refused to put their names to the accounts as part of a fresh row brewing over an estimated €800 million deficit in the energy company's pension scheme.

Another pensions row
The Sunday Business Post also reports that Siptu's aviation representatives have demanded that union-directors step down from the boards of Dublin Airport Authority and Aer Lingus, as the row over the deficit in their joint pension scheme deepens.

Irish Congress of Trade Unions general secretary David Begg currently sits on the board of the airline, while Siptu's vice president Patricia King serves on the board of the airport authority.