Precinct seeks new bank for Jurys bid

PRECINCT Investment, the company looking to acquire the Jurys Doyle Hotel Group, said it is still trying to find a new banker to finance its bids.

In a brief statement last night Precinct, whose bid is backed by British millionaires David and Simon Reuben, confirmed that Anglo Irish Bank had withdrawn as its principle banker.

Precinct, the owners of the Gresham Hotel chain, have one week to come up with a formal takeover bid for Jurys or walk away from the deal. Earlier this week the Jurys board withdrew its support for the indicative €17.50 a share offer.