Deal sealed for South Wharf's Ringsend facility

A former glass bottling plant at Ringsend in Dublin has been sold for €412m to newly-minted company Becbay, which now acquires 100% of the issued share capital of South Wharf.

Becbay is a newly-incorporated Irish company specifically formed for the purpose of participating in this tender process. Its directors are Paul Maloney, David Higgins, Bernard McNamara, Chris Hirst and Derek Quinlan. Forty-one percent of Becbay is owned by Donatex Limited, a company wholly owned by Bernard McNamara, 33% by Mempal Limited, itself owned by Derek Quinlan, and 26% by Dublin Docklands Development Authority.

The Ringsend facility is being sold by South Wharf. Its total assets at the end of June were €11.8m and total liabilities were €9.9m.