Glass Bottle financier hits €750m jackpot
Published 10/05/2011 | 05:00
A FINANCIER who made €30m from the sale of the Irish Glass Bottle site will be one of the biggest beneficiaries of a multi-million euro flotation of packaging giant Ardagh, writes John Mulligan.
Paul Coulson, above, and his family could see their 34pc stake valued at as much as €750m as Ardagh prepares to list on the US stock market this year.
Mr Coulson was one of the investors who sold the Glass Bottle site in Dublin's Ringsend for €412m to a consortium led by developer Bernard McNamara. It is now worth about €40m.
The move to float Ardagh is likely to value the company at about €2.2bn.