Unlikely Paul O'brien Will Accept QBRC Bid

Businessmen make formal bid for former Quinn companies

Rodney Edwards 
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Published: 12 May 2014 19:29

A GROUP of businessmen, including the former managing director of Fisher Engineering, Ernie Fisher, have placed a bid to buy the Aventas Group.

In a statement, a spokesperson for the consortium known as QBRC confirmed that it had lodged the first part of its offer to acquire the manufacturing assets once owned by Sean Quinn.

The proposal does not include the Glass business which has been rebranded as 'Encirc'. Instead, it will be the subject of a further offer at a later date.

“This two-step approach was adopted as a result of a number of the other businesses having already been offered for sale. Those businesses would, therefore, benefit from immediate certainty regarding their future. In addition, the proposal for the Glass business will be funded by a different type of funder

“QBRC lodged its offer on Wednesday last and, in order to afford the board of Aventas sufficient time to consider its offer, had not intended to comment on it publicly. However, given the announcement today to rebrand Quinn Glass, QBRC felt it important to make its position clear,” said the spokesperson.