Tony O’Reilly sells off assets worth €35m to repay loans

Former billionaire Tony O’Reilly has raised €35 million from asset sales as he seeks to repay his extensive borrowings since his lenders moved on him last year.

Last week, a further chunk of his stake in Independent News & Media was offloaded.

According to regulatory filings, the vehicle through which O’Reilly held his INM shares, Indexia Holdings, reduced its holding in the media group to 3.6 per cent from 5 per cent.

Based ...