Dunne sells Jurys Doyle 28% shareholding
Property developer Sean Dunne has sold his 28% shareholding in the Jurys Doyle Hotel Group for a profit of €20m.
In a statement today, the board of DTC Construction Services said it had decided to dispose of its Jurys Doyle shareholding and not to make a bid for the company.
Sean Dunne said he thought that a minority shareholding in a public company over which he had no say was negative for both parties.
Last month Mr Dunne bought a 4.8 acre site in Ballsbridge from Ireland's biggest hotels group. He paid €260m for the site, financially the biggest land deal to date in Irish history.
He has since bid for the adjoining Berkeley Court site, also owned by Jurys. He is also expected to bid for UCD's Veterinary College campus, which is next door, on November 11.
Shares in Juys Doyle were up 10 cent to €18.90 in Dublin this afternoon.
