Media Bites

Sunday Independent

A US bakery business bought by Irish-Swiss food group Aryzta less than four years ago for around €530m was sold last week for a knockdown price of only €20m.

The low price for Cloverhill, which has operations in Chicago, follows an immigration crackdown last year that forced out 800 staff, the equivalent of a third of the workforce.

Sunday Times

A CHINESE investment group is in advanced talks to buy Goodbody, the country’s second largest stockbroker, for about €100m.

Goodbody’s main owner, Fexco, declined to comment. The Kerry-based financial services group took control of Goodbody in January 2011 for €24m as the bank sold assets under the terms of its bailout.

Sky News

UK publisher Trinity Mirror will announce a £127m takeover of the publishing assets of Richard Desmond’s Northern & Shell group this week.

The purchase of the ‘Express’ and ‘Star’ newspapers and ‘OK!’ magazine will be unveiled on Friday. As much as £5m of the price is subject to approvals by Irish competition authorities. The deal will see Mr Desmond paid £42m in cash and £20m in shares upfront, another £60m will be deferred over five years.

Le Journal du Dimanche

AER Lingus owner IAG along with Air France and Lufthansa are eyeing French airline XL Airways.

Aigle Azur is also showing interest in the French low-cost carrier, which flies to the US, Israel, and the Reunion and Caribbean islands. The airlines decline to comment.