Bayfield's multimillion float nets O'Sullivan €24m
Published 17/07/2011 | 05:00
Finian O'Sullivan (above), the Galway geologist who made a fortune from selling Burren Energy for €2.1bn to ENI in 2008, is poised to raise €65m when his new company Bayfield Energy floats in London tomorrow.
Bayfield Energy, which has oil interests in Trinidad and southern Russia, is set to float at 60p per share on London's AIM market. This will value the company at about €145m.
O'Sullivan will own about 16.7 per cent of the oil firm, with his stake worth around €24m.
Sunday Indo Business