Monday 21 April 2014

Davy clients pile into €18bn Dell buyout

Well-heeled private clients of Davy Stockbrokers have invested in the €18bn buyout of iconic computer maker Dell.

It is understood that Davy private clients have invested in the Silver Lake Partners fund that is co-financing the buyout, along with billionaire Michael Dell and Microsoft. Silver Lake is putting up €1.1bn for the deal.

The Dell takeover is the largest technology firm buyout since the markets began to crash in 2007. A number of Dell's top Irish executives are poised to make a fortune from selling their shares. Irish Life Investment Managers, the stock picking arm of Irish Life, also holds a stake in the computer company.

Davy clients are also said to be involved in the €2.8bn buyout of one of China's largest internet advertising firm, Focus Media. The clients have invested with private equity group Carlyle, which is leading the buyout. The Focus Media deal is the largest ever private equity buyout in China.

Last year, clients of the country's largest stockbroker made a fortune when an early stage investment in Facebook paid off when the social media giant floated on US stock markets.

Irish Independent

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