It has been confirmed that the American billionaire Donald Trump has bought Doonbeg Irish golf resort.
The resort in County Clare has been sold by the receivers to the Trump Organisation.
In a statement, Donald Trump said Doonbeg is an already terrific property that will be made even better and that it will soon be an unparalleled resort destination with the highest standards of luxury.
The statement adds that the County Clare facility will be renamed "Trump International Golf Links, Ireland". The billionaire and star of the US reality TV show "The Apprentice" acquired the resort from US hedge fund King Street in a deal said to be worth $20.4 million (€15m).
The billionaire already owns a portfolio of 15 golf resorts around the world. He is understood to have signed contracts with the owners of Doonbeg on Saturday.
The Lodge hotel, at Doonbeg, and links course, spread over 400-acres and along 2.5 miles of coast, was put into receivership last month on foot of debts associated with properties on the site, some of which remain unsold.
Luke Charleton and David Hughes, of EY, were appointed joint receivers to the business. Announcing details of the sale, Charleton said “There was a tremendous level of interest from domestic and international investors in this property.
“It is particularly pleasing to have sold this prestigious property to The Trump Organisation who have the vision and resources to take what is an internationally renowned tourism resort to its next stage."
He went on to thank employees and customers of The Lodge at Doonbeg and Doonbeg Golf Club for their support during the receivership process.
Trump took to Twitter to celebrate the news of his latest purchase.