The Irish Infrastructure Fund (IIF) has been selected as the preferred bidder for the Convention Centre Dublin.
The decision was announced today by the liquidators of Spencer Dock Development Company following a sale process that began last year.
The deal is expected to complete over the coming months after regulatory approvals.
The Convention Centre was developed as a public-private partnership with the Government. It is a State-owned building and is operated under a concession contract which runs until 2035.
"The Convention Centre is a strategic national asset. In this regard the long-term approach of IIF will be a good fit with the objectives of the ultimate owner of the Convention Centre, the OPW", commented the executive chairman of the CCD business Dermot Dwyer.
"CCD has been delivering both a profit for the business itself and wider economic benefits and we expect that to continue', he added.
The joint liquidators of the Convention Centre are Paul McCann and Michael McAteer of Grant Thornton.
The assets being sold in the deal include the concession contract to operate and maintain The Convention Centre until 2035, the long-term lease of the associated 321-space car park; and a license to build and operate a 330-bed hotel on a site adjacent to the centre.
