Goodmans' stake in Green Reit nears 3pc
The Goodman family has raised its stake in takeover target Green Reit to 2.85pc, as the stock market listed property company prepares to finalise its shortlist of potential buyers.
A stock exchange filing yesterday showed that beef baron Larry Goodman's Vevan Unlimited had increased its interest in the group from 2.6pc, buying 1.5 million shares at a price of €1.816.
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Vevan is a company that is ultimately controlled by the Goodman Family Trust, as well as the Goodman Family Foundation.
The Goodman family built up a stake in Independent News & Media (INM) ahead of its sale, picking up a trading profit as the sale lifted share prices.
Vevan also built up a 4.5pc stake in One51 ahead of its Canadian stock market listing.
Green Reit's management put the business up for sale in April, citing the persistent gap between the valuation of its property portfolio and its share price.
At the time, shares in the company were trading at around €1.52 each.
Second-round bids from potential buyers were due earlier this week, with Green's financial advisers JP Morgan and Davy expected to move quickly to select a preferred bidder.
The prolific Irish property investor Kennedy Wilson is understood to have progressed to the second round, while Bloomberg last week reported that Henderson Park, which was set up by former Goldman Sachs partner Nick Weber in 2016, is also in the mix.
Green Reit declined to comment.