DOWN TO BUSINESS…John McCartan, Tony and Kevin Lunney in discussion at Monday night’s meeting in Enniskillen
THE Aventas Group has confirmed it is open to offers giving the former Quinn consortium group its strongest indication yet that a deal could be on the table.
In a statement from the Aventas Group, a spokesman stated that while they have yet to receive a formal offer, they are aware of the QRBC’s interest in the group.
They also confirmed correspondence between Aventas finance board and representatives from the QRBC but said they are awaiting a response to a letter in which the consortium group would prove its financial intentions.
The spokesman continued: “We are not actively marketing the Group in its entirety, however, if approached the board will consider any credible offer on its merits.
“As part of its fiduciary duties, the board will consider any credible offer for an individual business and/or the whole of the group on its merits.
“The board is fully aware of QBRC’s interest in the Group, however, no formal proposal has been received to date.
“Consistent with the approach taken with any potentially interested party in the Group’s businesses, the Board has, through its advisors, sought certain clarifications form QBRC.
“This was by way of a letter from our advisors to QBRC which sought to clarify how QBRC intended to fund and complete any such a transaction. This information is vital for the Board to fully evaluate if an offer is capable of being financed and therefore completed. To date there has been no response to our advisors letter.
“The board will continue to focus on safeguarding the interest of its employees. The commercial success of the business is the best way to safeguard employment. The Aventas Group has operations in Ireland, the UK and it is the board’s belief that these businesses and its employees can continue to thrive in all locations, irrespective of ownership.”
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