Quinlan Private is seeking to raise EUR 400 mln from private investors to fund its EUR 1.16 bn takeover of Jurys Inns, the Irish Times reports. The Dublin private equity group agreed the deal in June. In addition to the takeover, Quinlan is seeking cash to fund a large-scale expansion of the three-star chain into Central and Eastern Europe, the paper says.

Quinlan Private is seeking to raise EUR 400 mln from private investors to fund its EUR 1.16 bn takeover of Jurys Inns, the Irish Times reports. The Dublin private equity group agreed the deal in June. In addition to the takeover, Quinlan is seeking cash to fund a large-scale expansion of the three-star chain into Central and Eastern Europe, the paper says.

There are 20 hotels in the Jurys Inns chain, 14 in the UK and six in Ireland. The group booked pre tax earnings of EUR 60 mln in 2006. Quinlan is already involved in the hotel sector in Europe, including the Four Seasons in Prague and Budapest and the Yasmin Hotels in Central Europe.