Smurfit stays tight-lipped on K Club purchase speculation

Brian O'Mahony, Chief Business Correspondent

Mr Smurfit developed the hotel and golf course in Straffan, Co Kildare, while he was chief executive of the Jefferson Smurfit Group, The company was bought out by US fund management group, Madison Dearborn, who also took control of the K Club.

A spokesman refused to comment on reports that the tycoon, worth an estimated 400 million, was attempting to buy back control of the club at a cost of 100m. It was reported that he had teamed up with property specialist Gerry Gannon in an attempt to secure the deal.