Irish Life Group Ltd. Chief Executive Officer Kevin Murphy postponed his plans to retire at the end of 2012 as the government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc.
On a Sunday morning in October, Simon Kelly sat in the breakfast room of Dublin’s Morrison Hotel, looking eager to chat. Simon, 38, and his father, Paddy Kelly, 66, were once among Ireland’s most audacious real estate developers. During the boom years, they borrowed about 700 million euros ($950 million) from Anglo Irish Bank Corp. to buy golf resorts and build hotels.
Ireland’s National Asset Management Agency is preparing to sell three office buildings in central Dublin with a combined valued of more than 100 million euros ($134 million), two people with knowledge of the plan said.
Ireland’s National Asset Management Agency, the country’s so-called bad bank, will publish today a list of about 850 properties it has seized through the appointment of receivers and now has available for sale, a spokesman for the agency said.
Permanent TSB Group Holdings Plc, the bailed-out Irish lender, hired Morgan Stanley to sell its commercial real estate and subprime residential mortgage loan books, which have a combined face value of about 2.6 billion euros ($3.5 billion).