Precinct seeks fresh backers

IF Precinct fails to find new financing for its aborted Jurys Doyle bid the impact on developer Sean Dunne’s €200m investment in the business could be massive.

Shares in the county’s largest hotel chain fell more than 5% yesterday knocking €10 million off the value of Mr Dunne’s investment. Shares fell from €17.85 to €16.90 as Precinct’s €1.1bn bid looked dead.

Mr Dunne is heavily committed to Jurys, having previously agreed a €260 million price for the Jurys Doyle Ballsbridge site.