O’Flynn poised to escape Blackstone

20th September, 2015
Michael O'Flynn: €1.8 billion of his debts were sold to Blackstone last year Picture: Maura Hickey

Cork developer Michael O’Flynn is putting the finishing touches to a deal with a multibillion-dollar US private equity house that will finally draw a line under his relationship with Blackstone, the US vulture fund which bought his debts from Nama.

Sources close to the process confirmed that O’Flynn is in negotiations with Manhattan-based Avenue Capital, a US fund manager which controls almost $14 billion in assets worldwide.

Along with Avenue Capital, AIB...

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