Tuesday April 7, 2020

‘More recovery’ if Siteserv held

7th June, 2015

PwC advised the former Anglo Irish Bank that restructuring and holding onto Siteserv would yield “more recovery” for the bank than a sale, but with “significant risks”.

The accountants told IBRC that Siteserv required €25 million in new funding from the bank to invest in capital expenditure as well as source insurance bonds. This was needed for Siteserv to meet its projections and expand its business.

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