Padraic's Feed
Feb 2, 2015

Ireland’s CRH to buy Lafarge, Holcim assets for $7.4 bln

DUBLIN, Feb 2 (Reuters) – Irish building supplies group CRH
has agreed to pay 6.5 billion euros ($7.4 billion) for
assets Lafarge and Holcim were obliged to
sell ahead of their planned merger.

CRH, which said on Sunday it would fund the deal with cash,
new debt and a 9.99 percent equity placing, beat a consortium
led by Blackstone, whom several people familiar with the
matter told Reuters were also in the running.

Feb 1, 2015

CRH to buy Lafarge, Holcim assets for 6.5 bln euros

DUBLIN, Feb 1 (Reuters) – Irish building supplies group CRH
said on Sunday it had agreed to pay 6.5 billion euros
for assets Lafarge and Holcim were obliged
to sell ahead of their planned merger.

CRH, which said it will fund the acquisition with cash, new
debt and a 9.99 percent equity placing, beat a consortium led by
Blackstone, whom several people familiar with the matter
told Reuters were also in the running.

Jan 29, 2015

Aer Lingus shares fall as government opposition to sale grows

DUBLIN (Reuters) – Opposition to a takeover of Aer Lingus (AERL.I: Quote, Profile, Research) by the owner of British Airways is building within Irish government parties, pushing shares in the Irish airline lower for the second successive day.

Aer Lingus’s board this week recommended an improved 1.36-billion-euro ($1.5 billion) offer from International Consolidated Airlines Group (ICAG.L: Quote, Profile, Research) (IAG), subject to the agreement of its two largest shareholders — budget airline Ryanair (RYA.I: Quote, Profile, Research) and the Irish state.

Jan 28, 2015

Bank of England’s Carney warns euro zone of risks of timidity

DUBLIN (Reuters) – Euro zone leaders must take the controversial step of turning their currency area into a fiscal union, Bank of England Governor Mark Carney said on Wednesday, a call likely to be rebuffed by Germany.

Carney praised the European Central Bank for the “monetary policy boldness” of its plan last week to buy hundreds of billions of euros of government bonds to fight the “potentially dangerous” combination of weak growth and falling prices.

Jan 28, 2015

Irish central bank chief says Dublin has housing problem

DUBLIN (Reuters) – Dublin has a housing problem, Irish central bank governor Patrick Honohan said on Wednesday, as price rises continue to outstrip the rest of the country and the supply of new homes grows more slowly than expected.

Irish property prices are recovering after being cut in half by the bursting of a bubble in 2008.

Jan 27, 2015

Irish central bank eases mortgage rules for first-time buyers

DUBLIN, Jan 27 (Reuters) – Ireland’s central bank offered
relief to first-time house buyers as it finalised new
regulations on Tuesday to introduce curbs on mortgage lending
aimed at avoiding a repeat of the devastating 2008 property
crash.

The central bank proposed the tough new limits in October
before coming up against strong opposition from banks and the
government, who said the measures could push up rents, frustrate
potential homebuyers and have “unintended social
consequences”. ]

Jan 27, 2015

Aer Lingus board recommends $1.5 bln offer from BA-owner IAG

DUBLIN, Jan 27 (Reuters) – The board of Irish airline Aer
Lingus has recommended an improved 1.36-billion-euro
($1.52 billion) takeover offer from the owner of British Airways
which now must sooth government concerns to win shareholder
approval.

The new proposal from International Consolidated Airlines
Group (IAG), its third in six weeks, is worth 2.55 euros per
share, up from 2.40 euros, and includes a cash offer of 2.50
euros per share and a dividend of 0.05 euros.

Jan 27, 2015

Aer Lingus to recommend $1.5 billion offer from BA-owner – RTE

DUBLIN (Reuters) – Aer Lingus’s (AERL.I: Quote, Profile, Research) board is set to recommend an improved 1.36 billion euro (1 billion pounds) takeover offer from International Consolidated Airlines Group (IAG) (ICAG.L: Quote, Profile, Research), Irish national broadcaster RTE said.

The Irish airline said on Monday it was considering a third proposal in six weeks by the owner of British Airways. Without quoting any sources, RTE said it understood Aer Lingus would issue a statement when the stock exchange opens on Tuesday.

Jan 26, 2015

Aer Lingus says considering new $1.5 billion offer from BA-owner

DUBLIN (Reuters) – Aer Lingus (AERL.I: Quote, Profile, Research) said on Monday it was considering an improved 1.36 billion-euro ($1.52 billion) takeover offer from International Consolidated Airlines Group (IAG) (ICAG.L: Quote, Profile, Research), the third attempt by the owner of British Airways (BA) to buy its Irish rival.

For IAG a successful takeover would give it more of the highly valuable but scarce take-off and landing slots at London Heathrow, BA’s home base and a major European hub for international flights.

Jan 19, 2015

Irish central bank does not expect big changes to tougher mortgage proposals

DUBLIN, Jan 19 (Reuters) – Ireland’s central bank is
unlikely to water down proposals for tough new restrictions on
mortgage lending despite resistance from banks and the
government, its governor said on Monday.

The central bank wants to avoid any repeat of the reckless
lending and lax regulation that led to a devastating property
crash six years ago, and has proposed new limits as prices
recover quickly amid a lack of supply in urban areas.