THE proposed buy-out bid for the Aventas Group by a local consortium which, if accepted, would bring back senior management from Sean Quinn’s time, is expected to be formally tabled within days.
The consortium includes former Quinn Group directors Liam McCaffrey and Kevin Lunney, former managing director of Fisher Engineering, Ernie Fisher; John McCartin, a Fine Gael councillor in county Leitrim, and John O’Hagan, managing director of the Specialist Joinery Group in Maghera.
In an exclusive interview with the Herald last month, the consortium, which includes a number of other former senior Quinn Group managers revealed details of its bid.
While the hope is that a successful bid would help secure the 1,190 jobs at the various arms of the former Quinn Group across Fermanagh and Cavan, sources have warned that any break-up of the group in the selling process could result in ‘significant redundancies’ at Aventas headquarters near Derrylin.
All five Stormont Assembly members in Fermanagh South Tyrone have issued a statement urging Aventas not to break up the group in any selling process.
However in an interview with the Irish Times Aventas management said it ‘does not believe’ that the various units within the group needed to be retained as a unit.
The article added: “It believes disparate sections, such as packaging and glass can be sold to equity investors or hedge funds in separate lots, and that such sales would not imperil local employment.”
A spokesman for Aventas has confirmed to the Herald that it is open to offers.
“We are not actively marketing the group in its entirety. However, if approached, the (Aventas) board will consider any credible offer on its merits.”
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