Denis O’Brien

“The consideration for Siteserv Holding Ltd’s acquisition of the Siteserv assets and business from Milliington was €45.4m. This was financed with shareholders’ equity of €12m and loan finance from AIB.

“In the period from June 2012 to April 2013, SHL drew down €32.4m from the bank in loan and overdraft finance and repaid €3m. So effectively O’Brien and his fellow shareholders got control of Siteserv using just €12m of their own cash.”

How Has Siteserv Fared Since Denis O’Brien Took It Over? (Business Plus)

Meanwhile…

“If Michael Noonan is serious about reviewing loan transactions where significant writedowns have occurred, then there should be a similar review of a reasonable sampling of transactions at Nama – as well as AIB, for that matter.”

Mike Aynsley, former CEO of IBRC

Mike Aynsley interview exclusive: “I’m disappointed and outraged” (Tom Lyons, Sunday Business Post)

Yesterday: Timeline To A Killing