Re: Re: 32 storey tower proposed for Jurys Ballsbridge Site

DUBLIN (Reuters) – Property tycoon Derek Quinlan is potentially interested in making a bid for Ireland’s largest hotel group Jurys Doyle (JDH.I: Quote, Profile, Research), currently valued at around 1.1 billion euros, a spokesman said on Monday.

“He is interested. He is monitoring the situation. It would be a logical investment for the type of firm that it is,” the spokesman for Quinlan’s investor group, Quinlan Private, said. He declined to comment on the likelihood of a bid.

A source familiar with the situation said recent media reports of an imminent bid from the former tax inspector turned property tycoon were inaccurate.

Last month, Jurys (JDH.L: Quote, Profile, Research) agreed to recommend an informal offer from Irish-based Precinct Investments after it revised its proposal for a fourth time to 17.50 euros a share, compared to a previous approach at 16.50 euros.

Precinct, which took Ireland’s Gresham Hotel Group private last year, has until Friday afternoon to table a formal bid.

At 1515 GMT, Jurys shares were trading up 0.85 percent at 17.70 euros. The stock price has risen 46 percent since rumours of a possible bid first surfaced in early May.