Blackstone Group Said in Talks to Increase Irish Hotels Bet
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Blackstone Group LP is in talks to buy a 25 percent stake in what was once Ireland’s most expensive real estate from the U.K. unit of failed Icelandic lender Kaupthing Bank hf, two people with knowledge of the matter said.
Kaupthing Singer & Friedlander Ltd.’s administrators EY are selling the interest in three hotels once owned by now-bankrupt developer Sean Dunne in Dublin’s embassy belt in Ballsbridge, said the people, who asked not to be named as the matter is private. EY declined to comment on the transaction. In an e-mail, a spokesman for Blackstone, the biggest manager of private-equity real estate funds, declined to comment.