rent pressure zone<\/a> (RPZ) system, allowing landlords to reset rents to market rates between tenancies.<\/p>\nByrne said in August that the new regime had improved the investment outlook for the sector while maintaining protections for tenants. <\/p>\n
However, market expectations of a fresh series of interest rate hikes \u2013 as central banks tackle inflation \u2013 saw Ires\u2019s shares falling from those highs in recent months before the company confirmed the bid approach. <\/p>\n
Barings International Investment survived the collapse of its then parent Barings Bank in 1995, resulting from rogue investments carried out by trader Nick Leeson, as Dutch financial giant ING acquired the group for a nominal sum of \u00a31. ING subsequently sold Barings Investment Management to Boston-based MassMutual Financial Group in 2005. <\/p>\n
Ires is the fourth Irish public company to become the subject of a takeover bid this year. PTSB agreed in April to be taken over by Austria\u2019s Bawag, London-listed DCC Energy struck a deal in July to be bought by US private equity firms KKR and Energy Capital Partners, while Irish Continental Group (ICG) succumbed later that month to a management buyout bid. <\/p>\n
If Ires ends up being taken over, it will leave only 20 companies listed on the Irish stock market\u2019s main and growth markets. With Malin Corporation and Donegal Investment Group currently in wind-down mode, the exchange\u2019s operator, Euronext Dublin, will soon struggle to fill all the spots on the benchmark Iseq 20 index if it does not succeed in attracting initial public offerings (IPO) after a drought in such activity in the past five years. <\/p>\n
A property real-estate investment trust (Reit) called GDL Management Group floated in Dublin at the end of August. However, this was the result of a technical listing to comply with Irish Reit rules and the company\u2019s shares have yet to trade. <\/p>\n
The three other property trusts that floated in Dublin following the introduction of Reit legislation in 2013 \u2013 Green Reit, Hibernia Reit and Yew Grove Reit \u2013 were all subsequently acquired off the market. <\/p>\n","protected":false},"excerpt":{"rendered":"Ireland\u2019s largest private sector residential landlord, Ires Reit said it has received an offer of \u20ac1.386-a-share proposal from…\n","protected":false},"author":2,"featured_media":638464,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,177248,61,60,124449],"class_list":["post-638463","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-eddie-byrne","tag-ie","tag-ireland","tag-ires-reit"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/638463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=638463"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/638463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/638464"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=638463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=638463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=638463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}