Smurfit in Talks to Acquire Gannon Stake in K-Club Golf Course in Ireland

Michael Smurfit, one of Ireland’s richest men and former chairman of Smurfit Kappa Group Plc. (SKG), is in talks to acquire Gerry Gannon’s stake in Ireland’s K-Club golf course, according to a spokeswoman for Smurfit.

Smurfit bought the development with Gannon in 2005. The Ryder Cup was held the next year at the Straffan, Kildare-based course, west of Dublin.

Some of the loans associated with the resort are controlled by the Dublin-based National Asset Management Agency, a person familiar with the matter said. An agreement to sell the stake is close to being reached, said the person, who declined to be identified because the process isn’t yet complete.

To contact the reporter on this story: Joe Brennan in Dublin at

To contact the editor responsible for this story: Dara Doyle at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.