Other finance stories in brief
Newcourt buys Nifast in €3.25m deal
Dublin-listed Newcourt Group has bought risk-management specialist, Nifast, in a deal valuing the business at €3.25 million.
Newcourt announced yesterday that it has bought Nifast from its current owner, corporate insurance brokers, Coyle Hamilton Willis, for an initial €2.5 million and a deferred payment of €750,000.
Nifast is a leading health, safety and risk management specialist with bases in Dublin and Cork. It has 32 consultants and its clients include Irish and international businesses.
Irish Press takes Minotaur stake
Irish Press plc has acquired a majority interest in market research firm, Minotaur Business Research Systems. Cork-based Minotaur was founded by Brian and John O'Connell, who have operated their market research system commercially in Munster over the past two years. The company now plans to make the service available around the State.
Dublin Bus orders 100 new buses
Dublin Bus has placed a €33.3 million order with Volvo for 100 new buses, in anticipation of Government sanction for the expenditure.
The order from the CIÉ company is in addition to a previous order for 100 new buses, which forms part of its annual fleet renewal programme.
Cullen confident on Cork terminal
Minister for Transport Martin Cullen has expressed confidence that a report, from consultant BDO Simpson Xavier, on who will carry the cost of the new €160 million Cork Airport terminal will result in "a good outcome".
Mr Cullen refused to speculate on what the report, which is due for delivery today, will recommend in terms of assigning the debt. He dismissed suggestions that Cork will be asked to carry half the debt of the new terminal as premature.
Augusta seeks Irish investors
Private clinic operator, Augusta, is seeking €2.35 million from Irish investors to buy a €6.5 million medical centre in Berlin.
The third Augusta Syndicate announced yesterday that it was seeking the cash from private investors. The minimum subscription is €50,000.
Employment up 8.4% at IFSC
Employment in Dublin's International Financial Services Centre (IFSC) grew by 8.4 per cent last year, bringing the total number employed up to 19,095, according to the latest Finance Dublin Yearbook.
A total of 1,485 jobs was created between December 2004 and December 2005.
Liquidator for Dublin Gas
The High Court has approved an application to appoint a liquidator to Dublin Gas, the gas utility that went into receivership in the 1980s.
Martin Ferris of Ferris & Associates was appointed at the request of Donal Kinsella, a director and shareholder of Dublin Gas when it entered receivership.
Support for South Wharf deal
South Wharf says it has received commitments from 78 per cent of shareholders to support its recent agreement with Dublin Port Company.
Under the terms of the deal, the two sides agreed to end a long-running dispute over a 25-acre Docklands site by putting the land up for sale to a third party.
