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Quinn Group to Sell Non-Manufacturing Assets, Business Post Says

Quinn Group Ltd., the cement-to-hotels company whose equity is controlled by Irish Bank Resolution Corp., will sell non-manufacturing assets including hotels and an unfinished plastics factory in Germany, the Sunday Business Post said, without citing anyone.

An accord between nationalized IBRC, formerly Anglo Irish Bank Corp., and a syndicate of Quinn banks and bondholders will split the company into a manufacturing business and non-manufacturing division, with the latter broken up and sold, the newspaper reported. A restructuring plan has been approved by the Finance Ministry and financial regulator, it said.

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