Precinct is back in the hunt for Jurys Doyle

Precinct Investments' deal to buy Irish hotel chain Jurys Doyle was revitalised this week when it won the backing of the Bank of Scotland, allowing it to continue its four-month courtship of the hotel company.

Precinct has until Friday (2 September) to make a formal bid for the hotel group and is chasing a 50.1% stake. A spokesperson for Jurys Doyle said Precinct had not approached the group since acquiring new backing following the Anglo Irish Bank withdrawal from its provisional offer of €1.1b (£750m) on 26 August.

Speculation has been growing over other bids for the group. Sean Dunne, owner of property developer Mountbrook Homes and an 18.2% shareholder in Jurys Doyle, has had a €260m-bid (£180m) for the 4.5-acre Ballsbridge Jurys Doyle accepted by the hotel company.