Davy advising bidder in Greencore deal
Published 05/11/2011 | 05:00
DAVY Stockbrokers is advising the unnamed private equity firm bidding for Greencore. The readymeals-maker said last week that it had been approached by an unnamed firm and was in talks to sell the company. While the firm remains unknown, Davy is known to be advising the PE group on a possible sale. In the past week, the spotlight has turned on private equity firm Terra Firma as a possible bidder. Greencore would not comment last night. Terra Firma is not thought to be close to making a bid.
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BoI discount level could be just 12pc
BANK of Ireland could take a hit of just 12pc on its €10bn deleveraging programme, putting the bank well ahead of stress test estimates, stockbrokers Davy said yesterday. BoI recently announced it had offloaded €5bn of assets at an average discount of 9.5pc. Davy said it believed the discount on the remaining €5bn could be about 15pc. "This implied 12pc discount (on the €10bn) is well below the average level envisaged by the Central Bank."