Tuesday September 22, 2020

Griffin Group buys loans back from vulture fund for €26m

Hotel firm's debts were sold on by Ulster Bank in the wake of banking crisis

Gillian Nelis

Managing Editor

@gnelis
30th October, 2016
Michael Griffin and Liam Anthony Griffin: business has picked up for the group Picture: Patrick Browne

The Griffin Group, the long-established hotel firm which owns Hotel Kilkenny, the Ferrycarrig in Wexford town and the Monart destination spa in Enniscorthy, has bought its loans back from the vulture fund Bain Capital in a €26 million deal.

Funding for the deal, which has just been completed, was provided by AIB.

Consultants EY acted for the Griffin Group in the negotiations with Bain, which had acquired the debt in 2015 through a company called...

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