Seven in race to buy SIAC

There are seven credible interested parties in the race to acquire the construction firm, SIAC, through the examinership process, according to people familiar with the situation.

The bidders will be required to inject between €5m-€8m into the firm. All seven potential bidders have the financial resources to make the investment, according to sources.

It is believed that all parties involved in the examinership process are trying to get a deal in place before the Christmas break. However, the prospects of agreeing a deal before this deadline are seen at about 50:50, according to sources.