Media Bites

Sunday Independent

IPL Plastics, the company formerly known as One51, is planning to use CA$200m (€126m) raised in a Canadian IPO for a major European acquisition, according to shareholder sources. The company held acquisition talks with a number of European plastic companies last year but all negotiations are on hold during the IPO process.

Sunday Business Post

CONCERNS are mounting over the state of Ireland’s €2.7bn car-finance market, with both the Central Bank and the consumer watchdog saying that each other needs to regulate the sector – a move that raises massive questions for hundreds of thousands of Irish car buyers.

Sunday Times

THE State’s corporate watchdog has lined up a senior criminal lawyer and a British expert in corporate governance to be inspectors to Independent News & Media (INM), if its application to the High Court for their appointment is successful.

The Office of the Director of Corporate Enforcement (ODCE) is proposing to install senior counsel Seán Gillane and Richard Fleck, a former partner at Herbert Smith Freehills lawyers in London, as inspectors to INM.

Sunday Telegraph

A clutch of Wall Street hedge funds have staged a last-ditch rescue of stricken UK satellite operator Avanti Communications, saving the debt-laden firm from almost certain collapse.

A complex debt-for-equity swap deal, that will see the troubled business end up in the hands of specialist vulture funds, was approved by the High Court judge last week.